NIFTY & BANK NIFTY VIEW FOR 15/09/2016

AS EXPECTED YESTERDAY'S SESSION WAS DULL AND RANGE BOUND EXCEPT SOME SUDDEN FLASHES TOWARDS END.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

September Series

8500 PE regained highest OI tag from 8600 PE. Both CE & PE are fairly valued. Huge liquidation can be seen in ITM PE but mammoth addition in 8500 PE & 8800 PE indicates some some rangebound moves before some big wild swing.

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

September Series (Weekly Expiry - Immediate)

Mammoth additions in 19400 to 19900 PE & 20000 to 24000 indicates active participation of writers. 

Highest OI tag is with 19500 PE & 20500 CE.

September Series (Weekly Expiry - Next)

Good OI at 19500 PE indicates strong support at those levels. Upside resistance can be found at 20500 levels. 

Highest OI tag is with 19500 PE & 20500 CE.

September Series (Monthly Expiry)
Mammoth OI at 19000 PE indicates strong base formation for this series but on upside 20000 & 20500 CE are in tough fight. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.92

PE RATIO FOR BANK NIFTY STANDS AT 29.62

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.18
BANK NIFTY PCR ON BASIS OF OI IS 1.33

FINAL CONCLUSION

Nifty & Bank Nifty
At present our trade in Nifty PE is open and as discussed in last blog post till the time we do not get exact trend on chart we shall not be going aggressive on trades. 

NIFTY

Nifty Last Close 8727
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 19909
Support - 19620-19600, 19500-19480, 19320-19300 & 19240-19220
Resistance - 19960-19985, 20080-20100, 20180-20200 & 20290-20300

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