NIFTY & BANK NIFTY VIEW FOR 02/11/2016

NEW SERIES HAS JUST STARTED AND IN LAST 2 TRADING SESSIONS GOOD MANIPULATIONS GOING ON BY BIG HEADS IN NIFTY & NIFTY BANK ON PREMIUM/DISCOUNT FRONT.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

November Series

Good additions can be seen on both side of Options chain. But as we are near to immediate support at 8500 (which is being held by Bulls in last few sudden downside falls) Good additions can be seen in nearby strike options. On higher side also again irrespective of any market moves 9000 is going to act as strong resistance and same is also reflected by additions during last trading session. 

Highest OI tag is with 8500 PE & 9000 CE.

Nifty Bank

November Series (Weekly Expiry)

19600 CE is having highest OI so that shall be acting as strong resistance for today's session. On lower front 19500-19000 PE are in tough fight for highest OI tag but as psychological level 19000 shall play crucial role. 

Highest OI tag is with 19500 PE & 19600 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. (Repeat para)

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 30.19

NOVEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.98
NIFTY BANK PCR ON BASIS OF OI IS 1.41

FINAL CONCLUSION

Nifty & Nifty Bank
Nifty Bank is going to play vital role as we have weekly expiry tomorrow. Now if we go with OI on weekly basis as well as monthly then 19000 shall act as crucial support. If downside continues then again 8500 for spot Nifty shall be acting as strong support with 100 DEMA (already explained) 

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 19458
Support - 19420-19400, 19315-19300, 19225-19210 & 19130-19120
Resistance -  19580-19570, 19660-19675, 19760-19750, 19840-19850 & 19960-19970

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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.