NIFTY & BANK NIFTY VIEW FOR 03/10/2016

LAST TRADING SESSION BIT VOLATILE WITH BROADER RANGE.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

October Series

8500 PE is having huge OI but it should be noted that overall OI in 8400/8200/8000 PE is not comfortable and that may lead to further fall/flashes below 8500 atleast. 

Highest OI tag is with 8600 PE & 9000 CE.

Bank Nifty 

October Series (Weekly Expiry)

OI at 19000 PE indicates some suport at those levels but it should be noted 18500 PE also indicates some softness again before expiry of this series/expiry. On upside 20000 CE is standing with mammoth OI with may act as strong resistance. 

Highest OI tag is with 19000 PE & 20000 CE.

October Series (Monthly Expiry)

Though weekly expiry is suggesting base at 19000 but OI at 18000-18500 PE is giving hint of pain below 19000 also in next 3-4 sessions. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.40

PE RATIO FOR BANK NIFTY STANDS AT 28.95

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.98
BANK NIFTY PCR ON BASIS OF OI IS 1.21

FINAL CONCLUSION

Nifty & Bank Nifty
8500 PE is standing with huge OI but below that OTM PE (Below 8500 PE) indicates different story at present. This is also confirmed with partially with weekly Bank Nifty expiry option chain also by monthly contract. This needs to be correlated with charts exclusively without which if any trade is done/taken that may end with mess. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8611
Support - 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8650-8660, 8695-8700, 8735-8750 & 8810-8820

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19285
Support - 19150-1965, 19070-19050, 18970-18950 & 18860-18840
Resistance - 19330-19320, 19480-19500 & 19680-19700

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

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.