NIFTY & BANK NIFTY VIEW FOR 25/10/2016

NOTHING EXCITING IS HAPPENING IN MARKET AND SAME IS ALSO REPLICATED IN OPTION CHAIN.

LETS TRY TO STUDY INTRADAY CHART ON BIGGER TIMEFRAME.

As we can see that Nifty may face resistance at 8790-8810 zone.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

October Series

No major change can be seen in OC via OI additions. If Nifty goes below 8600 then 8500 shall act as strong support. 

Highest OI tag is with 8600 PE & 9000 CE.

Bank Nifty 

October Series (Monthly Expiry)

No major change can be seen in OC via OI additions. If Bank Nifty goes below 19500 then 19000 shall act as strong support. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.27
PE RATIO FOR BANK NIFTY STANDS AT 29.45

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.06
BANK NIFTY PCR ON BASIS OF OI IS 1.14

FINAL CONCLUSION

Nifty & Bank Nifty
As discussed earlier 8500 PE shall act as strong support for rest of series now. Now if we see OI at 8800 CE then again it may act as strong resistance. Now if Nifty Future crosses 8730-8750 zone then only we can expect moves till 8800 too.  

NIFTY (INTRADAY BASIS)

Nifty Last Close 8709
Support - 8620-8610, 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8765-8770 & 8810-8820

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19808
Support - 19760-19750, 19660-19675, 19580-19570, 19420-19410, 19330-19320, 19230-19225 & 19165-19150. 
Resistance - 19840-19850 & 19960-19970

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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.