NIFTY & BANK NIFTY VIEW FOR 13/10/2016

AS EXPECTED IN LAST POST NIFTY IS MOVING IN TIGHT RANGE ONLY AND WE STILL EXPECT THE SAME THAT TILL THE TIME 8500-8800 IS CROSSED BREACHED WITH BIG BANG WE RANGEBOUND MOVES ONLY.

FIGHT FOR CROSSING 8800 IS AS GOOD AS HIGHEST OI TAG FIGHT BETWEEN 8500 & 8600 PE.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

October Series

As usual tough fight is going on between 8500-8600 PE for gaining highest OI tag but OI at 8400-8200-8000 PE indicates different story MAY BE FEW TRADERS ARE THEY TO HEDGE THEIR HOLDING WITH THESE LOWER STRIKE PRICE PE IN CASE OF ANY DRAMATIC EVENT LIKE WAR OR SO. Incase of any dramatic event/moves we can expect 8000 shall act as firm base.

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

October Series (Weekly Expiry ~ NEAR)

Huge OI additions at 19600-19700-19800 CE indicates presence of writers in this  zone due to quick premium erosion and holidays. On PE also we can see similar case but still somehow 19000 shall act as strong support. 

Highest OI tag is with 19000 PE & 20000 CE.

October Series (Weekly Expiry ~ NEXT)

Same theory is applicable here also 20000 shall act as strong resistance but on lower side at present support can be expected at 19000 PE. 

Highest OI tag is with 19000 PE & 20000 CE.

October Series (Monthly Expiry)

20000 CE without doubt shall act as resistance but on lower side strong support can be seen at 18500 levels.

Highest OI tag is with 18500 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.34

PE RATIO FOR BANK NIFTY STANDS AT 29.09

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.00
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty

AFTER 2 DAYS OF HOLIDAYS OUR MARKET SHALL OPEN TODAY AND TODAY WE HAVE TCS RESULTS ALSO SO EXACT INFERENCE OUT OF THIS IS BIT DIFFICULT AT PRESENT.

NIFTY (INTRADAY BASIS)

Nifty Last Close 8709
Support - 8660-8650, 8620-8610, 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8765-8770, 8810-8820, 8845-8850, 8900-8910, 8990-9000

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19379
Support - 19330-19320, 19165-19150, 19070-19050, 18970-18950 & 18860-18840
Resistance - 19470-19485, 19570-19580, 19690-19700, 19780-19800, 19890-19910 & 19960-19985

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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.