NIFTY & BANK NIFTY VIEW FOR 27/09/2016

NIFTY & BANK NIFTY MOVED COMPLETELY AS PER OUR EXPECTATION IN THE LAST TRADING SESSION...!!!

INFACT WE DID MANAGED TO TAKE ENTRY NEAR TO HIGHEST POINT ON THURSDAY BUT ONLY REGRET IS THAT WE EXITED BIT EARLY TODAY ONLY DUE TO SOME REVERSAL WAS EXPECTED FROM THAT LEVEL. ANYWAY WE DID MANAGED TO GAIN GOOD PROFIT ALSO TODAY. NOW LETS TRY TO STUDY NIFTY AS PER DEMAND AND SUPPLY ON HOURLY CHART.

Now we can see that immediate demand zone for Nifty on hourly charts 8675-8665 and then next demand zone come at 8602-8622 zone. Which is again nothing else but gap filling area which we have already discussed with you all in last trading session.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

September Series

Good quantum of liquidation can be seen in 8800 PE but still 8500 PE is holding strong and hence we can expecting still some downside in current series. Mammoth additions in 8750-8800 CE indicates Bulls frustration. 

Now we only 3 sessions are left for current series so except highest OI CE/PE rest of the OC may NOT REFLECT TRUE PICTURE. Anyway OI at 8600 & 8700 PE then it still indicates some downside left. 

Highest OI tag is with 8500 PE & 9000 CE.

October Series

Huge OI can be seen at 8700 PE but at the same time OI at 8600-8700 should not ignored. Now all these 3 OI needs to be correlated with over all OI built-up in last few sessions and with chart. (Repeat para)

Highest OI tag is with 8700 PE & 9000 CE.

Bank Nifty 

September Series (Monthly Expiry)

Mammoth OI at 19000 PE indicates strong base but Bulls have managed smartly highest OI tag on CE front throughout this series. (Repeat para)

Now if talk about 19000 & 19500 PE OI then moves below 19500 spot cannot be ruled out. Infact OC depicts that flashes till 19100-19200.

Highest OI tag is with 19000 PE & 20000 CE.

October Series (Monthly Expiry)

Good built-up can be seen at 19500-20000 levels but some how we feel that flashes till 19500-19600 cannot be ruled out before September expiry on account of OI built-up to be made at lower strike prices in this series. (Repeat para) AND THIS DONE TODAY. 

CE front some built-up can be seen at 20000-20500 levels. 

Highest OI tag is with 19500 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.94

PE RATIO FOR BANK NIFTY STANDS AT 29.41

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.18
BANK NIFTY PCR ON BASIS OF OI IS 0.98

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.06
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty
As discussed via chart and OC 8600-8620 may act as strong support. So any fall at that those levels should be considered as strong buying opportunity for NEXT SERIES.

For Bank Nifty 19100-19200 is again strong Support/Demand zone. Before this small Support/Demand zone is there at 19200-19260 level. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8723
Support - 8680-8700, 8630-8620 & 8530-8550 
Resistance - 8750-8755, 8830-8825, 8845-8850, 8900-8905, 8990-9000 & 9045-9060

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19603
Support - 19550-19530, 19470-19440, 19320-19300 & 19220-19200
Resistance - 19780-19800, 19890-19910, 19960-19985, 20080-20100, 20180-20200 & 20290-20300

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STANDARD DISLCOSURE:-

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.

WE REQUEST ALL READERS TO GIVE THEIR FEEDBACK ON NIFTY50STRIKER@GMAIL.COM OR BY CALLING ON 08866145155 OR BY COMMENTING ON THIS BLOG POST.

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.