NIFTY & BANK NIFTY VIEW FOR 29/09/2016

LAST TRADING SESSION WAS RANGEBOUND WITH SOME BULLISH BIAS. NOW AS TODAY WE HAVE EXPIRY SOME VOLATILE MOVES CAN BE EXPECTED.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

September Series

Mammoth additions at 8700 PE indicates that this levels may act as trend decider which is very much obvious due to multiple times support taken there. Further to add 8500-8600-8700 PE having almost similiar OI.

Highest OI tag is with 8700 PE & 9000 CE.

October Series

8700 PE is playing vital role as support from last couple of sessions so that is acting as string support. 

Highest OI tag is with 8700 PE & 9000 CE.

Bank Nifty 

September Series (Monthly Expiry)

19400 to 19700 PE undergone good additions so that may play vital role in today's expiry. CE front from only liquidations can be seen in deeps ITM & far OTM. 

Highest OI tag is with 19000 PE & 20000 CE.

October Series (Monthly Expiry)

Quick back from 19500 levels resulted into bounce yesterday. 

Highest OI tag is with 19500 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.97

PE RATIO FOR BANK NIFTY STANDS AT 29.51

SEPTEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.35
BANK NIFTY PCR ON BASIS OF OI IS 1.11

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.96
BANK NIFTY PCR ON BASIS OF OI IS 0.91

FINAL CONCLUSION

Nifty & Bank Nifty
19500 & 8700 are acting strong support as we have highest PE in those strike prices for next series. 

As discussed earlier good accumulation has taken place in near by PE strike prices so some dramatic moves can be expected on account of expiry today. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8745
Support - 8680-8700, 8630-8620 & 8530-8550 
Resistance - 8830-8825, 8845-8850, 8900-8905, 8990-9000 & 9045-9060

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19654
Support - 19550-19530, 19470-19440, 19320-19300 & 19220-19200
Resistance - 19780-19800, 19890-19910, 19960-19985, 20080-20100, 20180-20200 & 20290-20300

-----------------------------------------------------------

TECHNICAL ANALYSIS TRAINING

WE ALSO CONDUCT TECHNICAL ANALYSIS TRAINING VIA ONLINE AS WELL AS ONE ON ONE ON PERSONAL BASIS. FOR DETAILS CONTACT US ON 08866145155 (PHONE CALL ONLY)

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.