NIFTY & BANK NIFTY VIEW FOR 26/08/2016

ONCE SIDED BLASTING MOVE BUT IT WAS ALMOST UNEXPECTED. WE HAVE ENTERED IN 8600 CE IN 2 LEGS WITH AVERAGE COST OF ABOUT 172/LOT. AT PRESENT WE HAVE GIVEN STOP LOSS OF 135 TO ALL OF YOU BUT WE ARE MONITORING CLOSELY OI AT 8500 PE. OI IN 8300 & 8400 PE IS HUGE COMPARATIVELY.

Nifty

September Series

Huge additions in nearby OTM PE indicates that traders are still betting on Nifty below 8500 or so. PE front valuations are bit stretched at present. Good additions can be seen in near by OTM CE too. 

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

September Series (Weekly Expiry - Immediate)

Mammoth additions can be seen 19200 & 19300 PE. 19000 without doubt shall act as strong support. On CE Front  19400 & 19500 witnessed good additions. 

Highest OI tag is with 19000 PE & 19500 CE.

September Series (Monthly Expiry)

Good additions can be seen on both side of OC but importantly most of ITM PE & CE also undergone additions which is purely case of position built-up.

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.62
PE RATIO FOR BANK NIFTY STANDS AT 28.79

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.02
BANK NIFTY PCR ON BASIS OF OI IS 0.84

FINAL CONCLUSION

Nifty & Bank Nifty
Nifty PCR is at neutral zone indicates possibility of moves of both the sides. Additions in nearby OTM PE indicates possibility of some softness but still below 8500 below we do not see closing in consecutive 3 trading sessions.

Now Lets see Bank Nifty.
Bank Nifty is forming strong base at 19000 downside but at the same time 19500 is also acting as stiff resistance. 

TIME BEING TODAY WE SHALL KEEP ON HOLDING OUR 8600 CE AT LEAST FOR TODAY'S SESSION.

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.