NIFTY & BANK NIFTY VIEW FOR 04/10/2016

LAST TRADING SESSION WAS COMPLETELY OUT OF OUR EXPECTATION...!!!

BULLS TOOK SUDDEN CHARGE AND THEN WHATEVER HAPPEN NEXT IS HISTORY...!!!

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

October Series

8600 PE is having huge OI but 8500 PE is also inline with it. On CE front good additions can be seen from 8700 to 8900. PE front valuations are more richer than CE front. 

Highest OI tag is with 8600 PE & 9000 CE.

Bank Nifty 

October Series (Weekly Expiry)

OI at 19000 PE indicates strong support at those levels. 20000 CE is having huge OI which shall act as strong resistance. Here also due to sudden upside move PE front valuations are bit rich than on CE front. 

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 indicating strong support at those levels.

Highest OI tag is with 18000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.80

PE RATIO FOR BANK NIFTY STANDS AT 29.41

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.98
BANK NIFTY PCR ON BASIS OF OI IS 1.13

FINAL CONCLUSION

Nifty & Bank Nifty
Last trading session move was not as per our view. So at present we would like to be on sideline so as to avoid any wrong trade. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8738
Support - 8700-8695, 8660-8650, 8620-8610, 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8760-8770, 8810-8820, 8845-8850, 8900-8910, 8990-9000

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19589
Support - 19500-19480, 19330-19320, 19165-19150, 19070-19050, 18970-18950 & 18860-18840
Resistance - 19680-19700, 19780-19800, 19890-19910 & 19960-19985

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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.