NIFTY & BANK NIFTY VIEW FOR 14/10/2016

FALL WHICH WE WERE WAITING FROM LAST 2-3 SESSIONS ATLAST CAME IN LAST TRADING SESSION...!!!

INFACT WHATEVER WE HAD POSTED/TRIED TO EXPLAIN VIA SIMPLE NIFTY CHART NIFTY OBLIGED THAT VERY WELL...!!!

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

October Series

From last few session we had been telling one and same thing that tough fight between 8500 & 8600 PE for highest OI tag but at last 8500 emerge as winner and also helped Bulls to take support near to that level.  

Surprisingly still some OTM PE additions can be seen till 8000. As per valuations aspect PE are overvalued that CE at present. 

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

October Series (Weekly Expiry ~ NEAR)

18500 PE is having highest OI and this OI additions took place in last trading session only. On higher side 19500 may act as strong resistance. 

Highest OI tag is with 18500 PE & 19500 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. (Repeat para)

But somehow we feel that going forward at present 19500 CE shall act as strong resistance for Bulls. 

Highest OI tag is with 18500 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.16
PE RATIO FOR BANK NIFTY STANDS AT 28.46

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.93
BANK NIFTY PCR ON BASIS OF OI IS 0.93

FINAL CONCLUSION

Nifty & Bank Nifty
After very long time PCR for both Indices came in control. 

Now if we again re-study old chart then Nifty is having strong support at 8530-8540 levels. Any close below 8500 may drag Nifty to 8200-8300 levels easily in quick move.

NIFTY (INTRADAY BASIS)

Nifty Last Close 8573
Support - 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8610-8620, 8670-8680, 8765-8770 & 8810-8820

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 18954
Support - 18860-18840, 18720-18700, 18660-18640 & 18540-18520
Resistance - 19070-19050, 19165-19150, 19330-19320, 19470-19485 & 19570-19580

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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.

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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.