Nifty & Nifty Bank View for 01/02/2018

TODAY NIFTY & NIFTY BANK OPENED WITH GAP ON DOWNSIDE AND THEN SOME RECOVERY CAME IN BUT AFTER THAT AGAIN BEARS CONTROLLED STREET TILL 1430 HRS BUT THEN BULLS MANAGED TO RECOVER FROM DAY'S LOW. 

WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY AND BANK NIFTY. IN CASE IF YOU HAVE MISSED THAT CLICK HERE TO READ THAT BLOG POST. 

ANYWAY THOSE WHO HAVE MISSED OUR NIFTY VIEW TILL YEAR END ARE REQUESTED TO READ IT HERE

Very soon we are going to conduct Free Webinar on Bollinger Band (one of Volatility indicators)  Link shall be send once everything is finalized meanwhile reader may fill form on right side of this blog post and link shall be send via email.

Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with Loss of 22 points or 0.20% at 11028 whereas Nifty Future closed at 11055 (Premium of 27 points) 

Nifty Bank Closed with Gains of 110 points or 0.40% at 27379 whereas Bank Nifty Future closed at 27466 (Premium of 87 points) 

Nifty View

Now lets have look at spot Nifty Daily Chart. 

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

As discussed in our last post "So now today's close is below yesterday's low. further psychological level of 11000 is also near so any close below that may easily trigger more fall"

Support levels are 10970-10883-10830 whereas Resistance levels are 11045-11100

"So till the time Nifty (spot) is closing above 10786 level we are in uptrend (short term) and more upside can't be ruled out.  (Repeat comment)"

"Medium chart (Weekly) suggested upside target of 11354 and till now Bulls managed to cover about 235 points on closing basis"

Nifty Bank View

Anyway lets move forward and study daily chart after last trading session. 

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

Today we had given Bank Nifty Future trading call and gained about 60 points.  

Going forward 27065-26890-26457 may act as support levels whereas on upside 27400-27495-27600 may act as resistance. 

Option Chain Data.

Nifty

On account of Budget session tomorrow volatile moves can't be ruled out. Highest Open Interest is at 11500 CE & 10500 PE. 

Nifty Bank (Considering only monthly Option Chain)


On account of Budget session tomorrow volatile moves can't be ruled out. Highest Open Interest is at 28000 CE & 26500 PE. 

Put Call Ratio Stands at 1.02 (Neutral) for Nifty whereas for Nifty Bank it is 1.21 (over bought) 

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Lets have look at IndiaVIX Chart

We can see some cool off from higher levels so going forward after tomorrow's event we may see significant fall in Option Premiums. 

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OPEN POSITIONS AT  PRESENT

NIFTY OPTION (CLICK ON LINK TO KNOW MORE) 

CANFINHOME (CLICK ON LINK TO KNOW MORE) 

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WE ALSO CONDUCT ADVANCE TECHNICAL ANALYSIS COURSE ONLINE AND/OR OFFLINE MODE. FOR MORE DETAILS CONTACT NIFTY50STRIKER@GMAIL.COM AND/OR 08866145155 (AT PRESENT WE RUNNING SPECIAL OFFER FOR AFTER TRAINING SUPPORT FOR 6 MONTHS - PING MORE FOR MORE DETAIL) 

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WE ALSO CONDUCT ADVANCE TECHNICAL ANALYSIS COURSE ONLINE AND/OR OFFLINE MODE. FOR MORE DETAILS CONTACT NIFTY50STRIKER@GMAIL.COM AND/OR 08866145155 
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IN CASE OF ANY QUERY/SUGGESTIONS READERS ARE REQUESTED TO CONTACT US NIFTY50STRIKER@GMAIL.COM OR 08866145155

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.