Nifty & Nifty Bank View for 11/01/2018

Nifty Spot Closed with Minor Loss of 5 points or 0.05% at 10632 whereas Nifty Future closed at 10637 (Premium of 5 points) 

Nifty Bank Closed with Loss 87 of points or 0.34% at 25617 whereas Bank Nifty Future closed at 25626 (Premium of 9 points) 

Nifty View

Last 2 sessions Bulls are not able cross 10647 on closing basis. Lets have look at updated chart. 

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

So in simple words If spot Nifty closes 10640-10650 zone then more upside cant be ruled out.  

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 4569k shares at 10700 (Huge additions of 661k shares) which may act as resistance (Highest OI tag shifted from 11000 to 10700). Now if we talk on PE front then Highest Open Interest is 7547k shares at 10500 PE which may act as support (huge additions of 620k shares) Further additions of 623k shares in 10600 PE which indicates tug of war between market participants for 10600 level. 

Nifty Bank (Considering only monthly Option Chain)
Highest OI at 25000 PE (808k shares) which may act as strong support level (psychological) 

On upside 26000 CE is having OI of 1603k shares shall act as stiff resistance.  

Put Call Ratio Stands at 1.36 (Over bought) for Nifty whereas for Nifty Bank it is 0.97

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Free Call:- (Shared on Telegram Channel)

#RISKY SHORT #JETAIRWAYS FUTURE LTP 865.50 SHORTING RANGE 865-866 SL 871.50 TARGET OPEN. LOT SIZE 1200. TRADE TYPE SWING.

Final Update:-

20 POINTS. LTP 844 BOOK FULL. CALL CLOSED FROM OUR SIDE.

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