NIFTY & BANK NIFTY VIEW FOR 14/09/2016

IN OUR LAST POST WE HAD TRIED TO EXPLAIN NIFTY MOVE IN VIA SIMPLE DAILY CHART AND UPDATE WAS ALSO GIVEN DURING MARKET HOURS. NOW LETS TRY TO RESTUDY THAT CHART AGAIN.

AS WE CAN SEE THAT LAST TRADING SESSION LOW WAS NEAR TO UPWARD MOVING TRENDLINE. NOW IF WE GET CLOSE BELOW THAT TRENDLINE MAY CAUSE MORE PAIN TO BULLS BUT AS OVERALL BIAS IS POSITIVE ANY CLOSE BELOW THAT SHOULD BE WATCHED CLOSELY FOR NEXT 2-3 SESSIONS.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

September Series

9000 CE maintained it highest OI tag and mammoth addition in 8800 CE indicates Bulls are expecting some bounce back. About 3800k shares were liquidated in single session which is big in recent past. Now OI at 8500-8600 PE is still very big so next few session shall be important for Bulls to stop more downside. 

Highest OI tag is with 8600 PE & 9000 CE.

Bank Nifty 

September Series (Weekly Expiry - Immediate)

Sudden downside move was unexpected but good dip below 20000 is welcome more for Bears. With this move more fall update 19600 can be expected. 

Highest OI tag is with 19500 PE & 20500 CE.

September Series (Monthly Expiry)
Still huge OI can be seen at 20000 CE but OI at 20500 & 21000 is very high so gain flashes near to 20500-20600 cannot be ruled out in this series. (Repeat comment) 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.89

PE RATIO FOR BANK NIFTY STANDS AT 29.44

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.19
BANK NIFTY PCR ON BASIS OF OI IS 1.40

FINAL CONCLUSION

Nifty & Bank Nifty
Nothing much exciting can be found at present in either of Indices OC. Any good opportunity shall be shared via whatsapp.

NIFTY

Nifty Last Close 8716
Support - 8700-8690, 8665-8655, 8600-8590 & 8535-8545
Resistance - 8750-8755, 8820-8825, 8845-8845, 8900-8905, 8990-9000 & 9045-9060

BANK NIFTY

Nifty Last Close 19791
Support - 19620-19600, 19500-19480, 19320-19300 & 19240-19220
Resistance - 19960-19985, 20080-20100, 20180-20200 & 20290-20300

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PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND OPTIONS CHAIN WHICH MAY REVERSE ANYTIME. THIS POST IS FOR EDUCATION PURPOSE ONLY AND NOT TO BE CONSIDERED AS BUYING OR SELLING RECOMMENDATION. WE ARE NOT SEBI REGISTERED RESEARCH ANALYST. WE ARE NOT RESPONSIBLE FOR ANY PROFIT OR LOSS FOR ANY TRADES EXECUTED ON BASIS OF THIS POST. WHILE UTMOST CARE HAS BEEN TAKEN WHILE ANALYSING CHARTS & OPTIONS DATA BUT IF INCASE THERE IS ANY HUMAN ERROR WE ARE APOLOGISE FOR IT.

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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.