Nifty & Nifty Bank View for 12/01/2018

Nifty Spot Closed with Minor Gains of 19 points or 0.18% at 10651 whereas Nifty Future closed at 10654 (Premium of 4 points) 

Nifty Bank Closed with Gains of 44 points or 0.17% at 25661 whereas Bank Nifty Future closed at 25660 (Discount of 1 point) 

Nifty View

Today Nifty closed just above our expected Resistance zone of 10640-10650. So next 2 sessions will be crucial for Further road ahead for Bulls. 

(Incase if you are not able to view full image click on image to enlarge)

On upside Bulls may face resistance at 10720-10750 zone. On downside 10566-10588 act as strong support. 

Nifty Bank View

We have already shared Volatility chart for BankNifty Future. So now lets move forward and study daily chart after today's session. 

(Incase if you are not able to view full image click on image to enlarge)

Nifty Bank may face resistance at 25775-25880-25925 levels. On downside 25455-25340 are support levels. 

Option Chain Data.

Nifty

Highest CE Open Interest is about 4499k shares at 11000 (Minor liquidation of 11k shares) which may act as resistance (Highest OI tag shifted from 10700 to 11000). Now if we talk on PE front then Highest Open Interest is 8209k shares at 10500 PE which may act as support (huge additions of 661k shares) Further additions of 1294k shares in 10600 PE which indicates tug of war between market participants for 10600 level. (Repeat comment) 

Nifty Bank (Considering only monthly Option Chain)
Highest OI at 25000 PE (833k shares) which may act as strong support level (psychological) 

On upside 26000 CE is having OI of 1595k shares shall act as stiff resistance.  

Put Call Ratio Stands at 1.48 (Over bought) for Nifty whereas for Nifty Bank it is 1.01

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