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Thursday 20 October 2016

NIFTY & BANK NIFTY VIEW FOR 20/10/2016

AS WE HAD EXPECTED IN OUR LAST POST GAP BETWEEN 8704-8680 GOT ALMOST FILLED. BUT STILL LOOKING AT SETUP AND MOVES AFTER YESTERDAY'S OPENING WE STILL FEEL THAT BULLS MAY STILL TRY TO FILL ENTIRE GAP IN NIFTY.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty
October Series
8000-8500-8600 PE are going to play critical role going forward. (repeat words ) But it should be noted that there has been tough fight between 8500-8600 PE for highest OI tag till now but now 8000 PE is also coming in limelight from last couple of sessions. 

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 
October Series (Weekly Expiry ~ NEAR)
18500-19000 PE are playing their role to help bulls for strong support at their respective levels but it should be noted that today we have expiry for this contract; whereas on CE front 19600-19700 CE is favoring Bears.

Highest OI tag is with 18500 PE & 20000 CE.

October Series (Monthly Expiry)
Though weekly expiry is suggesting strong support at 18500 level but monthly option contract suggests 19000 PE is playing crucial role as forming strong support level. 

Highest OI tag is with 19000 PE & 20000 CE.


NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR NIFTY STANDS AT 23.35
PE RATIO FOR BANK NIFTY STANDS AT 29.14

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.96
BANK NIFTY PCR ON BASIS OF OI IS 1.04


FINAL CONCLUSION
Nifty & Bank Nifty
8500-8600 PE without doubt is acting as strong support but it should be noted 8000 PE is again momentum day by day and with Bank Nifty 18000-18500 PE OI should not be ignored. 

WE STILL CONTINUE WITH OUR VIEW OF INITIATING TRADE ONLY WITH ENTIRE GAP FILLING MOVE AND SETUP THEREAFTER.

NIFTY (INTRADAY BASIS)
Nifty Last Close 8659
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 19412
Support - 19330-19320, 19230-19225, 19165-19150, 18940-18930, 18860-18840, 18720-18700, 18660-18640 & 18540-18520
Resistance - 19570-19580, 19660-19675 & 19750-19760
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TECHNICAL ANALYSIS TRAINING

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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.

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