NIFTY & BANK NIFTY VIEW FOR 19/10/2016

LAST TRADING SESSION RALLY WAS SOMETHING UNEXPECTED BUT OUR OLD CHART AND VIEW THEREON WAS SOMETHING WHICH WE HAD SAID THAT 8500 & 19000 SHALL ACT FIRM SUPPORT WHICH BECOME DOT TO DOT REALITY.

ANYWAY NOW WE FEEL THAT SOMEHOW TODAY SESSION WILL PLAY CRUCIAL ROLE AND IT MAY ACT AS TRENDLINE CHANGER.

LETS TRY TO SEE THAT VIA SIMPLE CHART.

SO FROM CHART WE CAN SAY THAT 8704 TO 8681 IS GAP ZONE WHICH MAY GET FILLED AND THEN IF NIFTY MOVES HIGHER WE CAN SAY THAT AGAIN 8500 ACTED AS STRONG SUPPORT BUT WE FEEL THAT FOR THIS ENTIRE SERIES SUDDEN DOWNSIDE MOVES CANNOT BE RULED OUT.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

October Series

8000-8500-8600 PE are going to play critical role going forward. This is because OI for all this strike prices are more or less same. 8500 is acting as strong support but we feel that this may not remain base for longer time period.

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 

October Series (Weekly Expiry ~ NEAR)

19500-19700-19900 CE are in sequence which shall remain as resistance levels. But it should be noted that today we have an expiry for this contract. So some volatility cannot be ignored. On downside 18500 PE shall act as strong support.

Highest OI tag is with 18500 PE & 19700 CE.

October Series (Monthly Expiry)

19000 PE shall act as strong support as we can see that 18500 PE got replaced by 19000. On CE front highest OI is with 20000 which shall act as strong resistance. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.22
PE RATIO FOR BANK NIFTY STANDS AT 29.27

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.01
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty
As discussed couple of time 8500 PE is playing its vital role in this move but it should be noted that on highest side 8800 is again resistance. We shall initiate trade after today opening after analysing GAP filling or non filling move.

NIFTY (INTRADAY BASIS)

Nifty Last Close 8678
Support - 8620-8610, 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8710-8715, 8765-8770 & 8810-8820

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19495
Support - 19330-19320, 19230-19225, 19165-19150, 18940-18930, 18860-18840, 18720-18700, 18660-18640 & 18540-18520
Resistance - 19570-19580, 19660-19675 & 19750-19760

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

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.