WHATEVER WE HAD DISCUSSED ON RELIANCE INDUSTRIES IN OUR STUDENT'S GROUP ON FRIDAY HAS HAPPENED TODAY...!!!
FROM MAY 19, 2018 WE ARE GOING TO START FRESH WEEKEND BATCH ON TECHNICAL ANALYSIS. FOR MORE DETAILS CONTACT 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM
WE HAVE ALREADY SHARED OUR WEEKLY VIEW THOSE WHO MISSED TO READ THAT ARE REQUESTED TO CLICK HERE TO READ IT.
Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.FROM MAY 19, 2018 WE ARE GOING TO START FRESH WEEKEND BATCH ON TECHNICAL ANALYSIS. FOR MORE DETAILS CONTACT 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM
WE HAVE ALREADY SHARED OUR WEEKLY VIEW THOSE WHO MISSED TO READ THAT ARE REQUESTED TO CLICK HERE TO READ IT.
Nifty Spot Closed with Gains of 47 points or 0.44% at 10739 whereas Nifty Future (May Series) closed at 10780 (Premium of 41 points)
Nifty Bank Closed with Gains of 137 points or 0.54% at 25531 whereas Bank Nifty Future (May Series) closed at 25636 (Premium of 105 Points)
Nifty View
Lets have look at Nifty Future Daily Chart
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance ~ 10760-10786-10830-10883-10970-11045-11000
Support ~ 10666-10596-10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815
Conclusion
We can see that Nifty Future has given clear breakout from resistance zone so more upside cant be ruled.
Nifty Bank ViewLets have look at Bank Nifty Future Daily Chart
Resistance ~ 25640-25775-25880-25925-26336-26424-26457
Support ~ 25455-25340-25220-25150-25065-24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740
Conclusion
We can see that bank Nifty Future has given clear breakout from resistance zone so more upside cant be ruled. but going forward 25750-25780 may act as strong resistance.
Option Chain Data.
Nifty
We can see that slowly slowly Open Interest data is getting built and with that we can see 10500 PE shall act as strong support and on upside 11000 CE may act as resistance.
Nifty Bank (Considering only monthly Option Chain)
We can see that slowly slowly Open Interest data is getting built and with that we can see 10500 PE shall act as strong support and on upside 11000 CE may act as resistance.
Nifty Bank (Considering only monthly Option Chain)
Put Call Ratio Stands at 1.23 (Overbought) for Nifty whereas for Nifty Bank it is 1.28 (Overbought)
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