Nifty Spot Closed with Gains of 30 points or 0.28% at 10681 whereas Nifty Future closed at 10686 (Premium of 5 points)
Nifty Bank Closed with Minor Gains of 44 points or 0.17% at 25749 whereas Bank Nifty Future closed at 25743 (Discount of 6 points)
Nifty View
In our last post we has said that Bulls managed to close above our resistance zone and next 2 sessions are crucial. We have already said that if Bulls manages to above this zone then that may trigger more upside of 100 points in quick mode on our Telegram Channel
Anyway lets have look at update Nifty chart.
Nifty View
In our last post we has said that Bulls managed to close above our resistance zone and next 2 sessions are crucial. We have already said that if Bulls manages to above this zone then that may trigger more upside of 100 points in quick mode on our Telegram Channel
Anyway lets have look at update Nifty chart.
(Incase if you are not able to view full image click on image to enlarge)
On downside 10660-10650 may act as strong support and close below 10600 may only trigger more downside.
Nifty Bank View
We have already shared Volatility chart for BankNifty Future and as per that we are record low of last 5 years.
Anyway lets move forward and study daily chart after last session.
(Incase if you are not able to view full image click on image to enlarge)
Nifty Bank faced resistance at 22775 level which we had mentioned in our last post. (High of 25775)
Going forward still 25775-25880-25925 levels may act as strong resistance. On downside 25570-25455-25340 are support levels.
Option Chain Data.
Nifty
Highest CE Open Interest is about 4499k shares at 11000 (Additions of 232k shares) which may act as resistance but before that 10700 CE is having Open Interest of 4312k shares which may act as minor hurdle.
Now if we talk on PE front then Highest Open Interest is 8154k shares at 10500 PE which may act as strong support (minor liquidations 55k shares) Further huge additions of 1024k shares in 10700 PE (OI of 2695k shares) which indicates continuous shift of OI at higher PE strike prices.
Now if we talk on PE front then Highest Open Interest is 8154k shares at 10500 PE which may act as strong support (minor liquidations 55k shares) Further huge additions of 1024k shares in 10700 PE (OI of 2695k shares) which indicates continuous shift of OI at higher PE strike prices.
Nifty Bank (Considering only monthly Option Chain)
Highest OI at 25000 PE (827k shares) which may act as strong support level (psychological) but next highest Oi comes at 26000 PE which can be considered as mismatch at present.
On upside 26000 CE is having OI of 1409k shares shall act as stiff resistance.
Highest OI at 25000 PE (827k shares) which may act as strong support level (psychological) but next highest Oi comes at 26000 PE which can be considered as mismatch at present.
On upside 26000 CE is having OI of 1409k shares shall act as stiff resistance.
Put Call Ratio Stands at 1.51 (Over bought) for Nifty whereas for Nifty Bank it is 1.06
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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.
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