NIFTY & BANK NIFTY VIEW FOR 01/11/2016

WISHING ALL OUR READERS VERY HAPPY AND PROSPEROUS NEW YEAR.

BEFORE WE DISCUSS FURTHER LETS TRY TO ANALYSE NIFTY & NIFTY BANK CHART.

Above is Nifty daily chart and we can see that 8500 on structure base and also on basis of 100 DEMA is strong support. 

Above is Nifty Bank daily chart and we can see that 18800-18900 zone shall be acting as strong support (as per trend/structure and 100 DEMA) Overall if we see momentum then we can see that in comparison to Nifty; Nifty Bank is stronger.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

November Series

8500 PE is standing with highest OI so that shall act as strong support. ON CE front though 9000 CE is having highest OI 8700-8800 CE shall play its role. 

Highest OI tag is with 8500 PE & 9000 CE.

Nifty Bank

November Series (Weekly Expiry)

19000 & 19500 PE is having good OI so again flashes near to 19000 cannot be ruled out. Coincidently 19500 CE is also having highest OI so that shall lead to confusion and volatility. (Repeat paragraph) 

Highest OI tag is with 19000 PE & 20000 CE.

November Series (Monthly Expiry)

Being monthly series highest OI placed at 20000 CE & 19000 PE so that shall act as wall of support and resistance respectively. 

Highest OI tag is with 19000 PE & 20000 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.31
PE RATIO FOR NIFTY BANK STANDS AT 30.30

NOVEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 1.02
NIFTY BANK PCR ON BASIS OF OI IS 1.14

FINAL CONCLUSION

Nifty & Nifty Bank
As discussed earlier strong support can be found at 8500 & 18800-18900 but it should be noted that now we are inching closer towards big event of US Elections. We feel that now one should either be hedged or stay away from naked option buying trades.


NIFTY (INTRADAY BASIS)

Nifty Last Close 8625
Support - 8560-8565, 8520-8510, 8475-8470 & 8405-8400
Resistance - 8680-8670, 8710-8720, 8765-8770 & 8810-8820

NIFTY BANK (INTRADAY BASIS) 

Nifty Last Close 19524
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.