NIFTY & BANK NIFTY VIEW FOR 05/10/2016

DESPITE OF THE FACT THAT RBI HAD GIVEN RATE CUT NIFTY & BANK NIFTY CLOSED WITH MINOR GAINS.

LETS TRY TO UNDERSTAND CHANGES IN OI DATA.

Nifty

October Series

9000 CE without doubt shall act as strong resistance but before that Bulls need to cross 8800 too. Day by Day we can see that additions are going on in 8600 PE and other near by strike prices PE but no major fall is coming at present. 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 but somehow we feel 19500 may also act as good support today. 

On upside 20000 shall 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 indicating strong support at those levels. (Repeat para) But good thing is that we can see that support is shifted from 18000 to 18500. 

Highest OI tag is with 18500 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.95

PE RATIO FOR BANK NIFTY STANDS AT 29.53

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.02
BANK NIFTY PCR ON BASIS OF OI IS 1.05

FINAL CONCLUSION

Nifty & Bank Nifty
8800 shall act as strong resistance at present for Nifty but somehow we feel that today's session shall be range bound only. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8769
Support - 8700-8695, 8660-8650, 8620-8610, 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8810-8820, 8845-8850, 8900-8910, 8990-9000

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19672
Support - 19590-19610, 19500-19480, 19330-19320, 19165-19150, 19070-19050, 18970-18950 & 18860-18840
Resistance - 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.