As expected in our last post Nifty did not moved upside after today's opening and some volatility was seen and towards close Nifty formed Bearish Engulfing Candlestick Signal
Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank
Nifty Spot Closed with Loss of 41 points or 0.38% at 10700 whereas Nifty Future closed at 10710 (Premium of 10 points)
Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank
Nifty Spot Closed with Loss of 41 points or 0.38% at 10700 whereas Nifty Future closed at 10710 (Premium of 10 points)
Nifty Bank Closed with Loss of 94 points or 0.36% at 25975 whereas Bank Nifty Future closed at 25990 (Premium of 15 points)
Nifty View
Now lets have look at spot Nifty daily chart.
As expected some rejection was seen at higher levels. Now Next 2-3 sessions are important for more upside or even for reversal move.
On downside 10660-10650 may act as strong support and close below 10600 may only trigger more downside.
Nifty View
Now lets have look at spot Nifty daily chart.
As expected some rejection was seen at higher levels. Now Next 2-3 sessions are important for more upside or even for reversal move.
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 have seen some spike in last 2 sessions.
Anyway 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)
As expected in our last post Bulls were not able to cross 26100 convincingly and then fall came in. We still repeat our view that 'more upside can only be expected if 26100 is cleared on closing basis'. If that happens then more upside of 300-400 points can't be ruled out before expiry.
Going forward still 25925-25880-25775 levels may act as strong support.
Option Chain Data.
Nifty
Continuous shifting on Open Interest front is seen on PE front in this series (Repeat Comment). About 2000k shares liquidated during today's session from 10000-10800 PE (considered only 10000-10800 strike prices in multiples of 100 only)
But on CE front more than 1665k shares were added on CE front. (considered only 10700-11000 strike prices in multiples of 100 only)
On CE front 11000 CE is still standing strong with 5221k shares which may act as strong resistance whereas on PE front 7512k shares can be seen as Open Interest in 10700 PE strike price.
Continuous shifting on Open Interest front is seen on PE front in this series (Repeat Comment). About 2000k shares liquidated during today's session from 10000-10800 PE (considered only 10000-10800 strike prices in multiples of 100 only)
But on CE front more than 1665k shares were added on CE front. (considered only 10700-11000 strike prices in multiples of 100 only)
On CE front 11000 CE is still standing strong with 5221k shares which may act as strong resistance whereas on PE front 7512k shares can be seen as Open Interest in 10700 PE strike price.
Nifty Bank (Considering only monthly Option Chain)
Again shift of highest OI tag from 25000 to 25500 PE took place and after today's session 907k shares can be seen as Open Interest. On CE front Nifty Bank closed just below 26k mark and below highest CE OI (Highest OI at 26000 CE of 894 shares)
Put Call Ratio Stands at 1.46 (Over bought) for Nifty whereas for Nifty Bank it is 1.25
Again shift of highest OI tag from 25000 to 25500 PE took place and after today's session 907k shares can be seen as Open Interest. On CE front Nifty Bank closed just below 26k mark and below highest CE OI (Highest OI at 26000 CE of 894 shares)
Put Call Ratio Stands at 1.46 (Over bought) for Nifty whereas for Nifty Bank it is 1.25
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Trading call shared on Telegram channel
TBZ BTST (GIVEN ON 15/01/2018) WHEN GIVEN LTP WAS 145.50 HIGH MADE THEREAFTER 149.
UPDATE WAS GIVEN TODAY WHEN STOCK WAS TRADING AROUND 154 TO CLOSE POSITION.
MERCK BTST (GIVEN ON 15/01/2018) WHEN GIVEN LTP WAS 1642 HIGH MADE 1686.80 (20% UC)
UPDATE WAS GIVEN TODAY WHEN STOCK WAS TRADING AROUND 1600 TO CLOSE POSITION.
T.ME/NIFTY50STRIKER
TWITTER.COM/NIFTY50STRIKER
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