NIFTY & BANK NIFTY VIEW FOR 03/11/2016

AS EXPECTED SPOT NIFTY TOOK SUPPORT NEAR TO 100 DEMA AND ALSO NEAR TO HIGHEST PE OI.

NOW AGAIN BULLS MANAGED TO LIFT NIFTY FROM 8500 LEVELS BUT AGAIN NEXT 2-3 SESSIONS ARE CRUCIAL AND WE FEEL THAT IF 8500 IS BROKEN ON CLOSING BASIS THEN BEAR MAY PUSH NIFTY TILL 8200 LEVELS EASILY.

NOW LETS TRY TO LOOK OPTIONS DATA.

Nifty

November Series

About 1000k shares were added on net net basis from 8000 to 8400 PE but at the same time same quantum of shares were liquidated in different strike prices from 8500 to 8800 PE. 

On CE front from 8500 to 9000 CE about 2000k shares were added in different strike prices.

Highest OI tag is with 8500 PE & 9000 CE.

Nifty Bank

November Series (Weekly Expiry)

As expected 19000 level acted as strong support and 19500 PE did its job in last trading session. Now again today being expiry of this series 19500 CE shall act as resistance. 

Highest OI tag is with 19000 PE & 19500 CE.

November Series (Monthly Expiry)

More or less monthly contract is also showing same picture at present which is in line with today's weekly expiry OC.

Highest OI tag is with 19000 PE & 19500 CE.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.01
PE RATIO FOR NIFTY BANK STANDS AT 29.84

NOVEMBER SERIES
NIFTY PCR ON BASIS OF OI IS 0.94
NIFTY BANK PCR ON BASIS OF OI IS 1.50

FINAL CONCLUSION

Nifty & Nifty Bank
ITM liquidations at start of series and additions in nearby OTM PE strike prices depicts different story altogether. Now Nifty Bank is clearly in favor of Bears. Once must trade with strict stop loss on either side of trade. 

NIFTY (INTRADAY BASIS)

Nifty Last Close 8514
Support - 8475-8470 & 8405-8400
Resistance - 8560-8565, 8610-8620, 8680-8670 & 8710-8720

NIFTY BANK (INTRADAY BASIS) 

Nifty Last Close 19229
Support -  19130-19120 & 19020-19000
Resistance -  19315-19300, 19420-19400, 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.