NIFTY & BANK NIFTY VIEW FOR 25/08/2016

AGAIN CONSOLIDATION OR RANGEBOUND BUT VOLATILE DAY...!!!

VERY FEW OF YOU ARE HOLDING 8600 CE SEPTEMBER SERIES RIGHT FROM 1st ENTRY AS DUE TO CONTINUOUS FOLLOW UP AND UPDATE FROM BOTH ENDS MANY HAVE BOOKED 40-60 POINTS PER LOT TILL NOW.

ANYWAY LETS HAVE SOME DISCUSSION ON OPTION CHAIN CHANGES.

Nifty

August Series

Still 8400 PE is having highest OI but it should be noted that that strike price is far about 150 points from current levels. On upside 8700 & 8800 CE is having highest OI but still some how we feel that 8700 CE shall act as stiff resistance. 

Highest OI tag is with 8400 PE & 8800 CE.

(Shifting from 8500 to 8400 on PE Front) 

September Series

Mammoth additions can be seen on both side of OC but still additions on PE front indicates position built-up is taking place at present.(Repeat comment)

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

August Series (Monthly Expiry)

19100 PE and below that till 18000 PE all PE strike prices undergone liquidation. But huge built-up at 19500 CE which may act as resistance. 

Highest OI tag is with 19000 PE & 19500 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.78
PE RATIO FOR BANK NIFTY STANDS AT 28.87

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.09
BANK NIFTY PCR ON BASIS OF OI IS 0.98

FINAL CONCLUSION

Nifty & Bank Nifty
No need to consider August PCR as moves are range bound. Expiry below 8500 is very tough task for Bears. Upside above 8700 will be dream for Bulls. 

Now Lets see Bank Nifty.
19500 without doubt shall act as strong resistance in today's session. Downside below 19200 will again be dream for Bears (closing basis) 

FURTHER SUPPORT AND RESISTANCE LEVELS SHALL ALSO BE SHARED VIA WHATSAPP BEFORE MARKET OPENS. 

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ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET. HE IS ALSO CERTIFIED AS RESEARCH ANALYST FROM SEBI. FURTHER HE HAS CLEARED INVESTMENT ADVISER LEVEL - 1 FROM NISM IN 2014.