NIFTY & BANK NIFTY VIEW FOR 27/10/2016

NIFTY MOVED AS PER CHART POSTED YESTERDAY NOW TODAY WE HAVE DERIVATIVE EXPIRY FOR OCTOBER SERIES SO SOME VOLATILE MOVES CANNOT BE RULED OUT.

BEFORE WE MOVE FURTHER LETS HAVE LOOK AT FOLLOW UP CHART.

BELOW IS LAST BLOG POST CHART AND THEN FOLLOWING IS UPDATED CHART AFTER YESTERDAY'S  SESSION.

NOW LETS HAVE LOOK AT UPDATED CHART

Now as we can see that Nifty Future is have support at 8590-8560 zone below that we have 100 EMA at 8531 level after yesterday's session.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

October Series

As expected and mentioned in last several blog posts 8800 CE shall act as resistance and that is also confirmed after yesterday's session as this strike got highest OI so that may act as resistance. On down side highest OI shifted to 8500 from 8600 so that may act as strong support. (Please note after 11th July 2016 bears managed to give moves near to 8500 but unable to manage close near to 8500 convincingly except single session) 

Highest OI tag is with 8500 PE & 8800 CE.

Bank Nifty 

October Series (Monthly Expiry)

Some ITM liquidations can be seen on PE front but additions on CE front depicts different story altogether. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.30
PE RATIO FOR BANK NIFTY STANDS AT 30.17

OCTOBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.86
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty
8500 PE and 100 EMA shall act as strong support without doubt but it should be noted that due to expiry we may see some volatility (Repeat paragraph and same was also witnessed in last trading session) 

We somehow feel that we may see Nifty close on expiry day near to 8650 (+/-20 points) 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8615
Support - 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8680-8670, 8710-8720, 8765-8770 & 8810-8820

BANK NIFTY (INTRADAY BASIS) 

Nifty Last Close 19484
Support - 19420-19400, 19315-19300, 19225-19210 & 19130-19120
Resistance -  19580-19570, 19660-19675, 19760-19750, 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.