Nifty & Nifty Bank View for 25/01/2018

2 TIMES IN ROW WE EXPECTED UPSIDE FOR NIFTY & NIFTY BANK AND BOTH INDICES OBLIGED OUR VIEW FURTHER IN OUR LAST BLOG POST SAID SOME CONSOLIDATION & COOL OFF AND RESULT IS IN FRONT OF US. 

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

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

Nifty Spot Closed with Gains of 2 points or 0.02% at 11086 whereas Nifty Future closed at 11082 (Discount of 4 points) 

Nifty Bank Closed with Gains of 8 points or 0.03% at 27399 whereas Bank Nifty Future closed at 27445 (Premium of 46 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)

We can see in chart that today's candle was consolidation based with tight range bound but with high volatility. 

"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 200 points"

Tomorrow we have January series expiry so some more upside can't be ruled but after that next week shall be full drama due to BUDGET

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)

Now for this series 27000 will act as strong support below that 26760 shall act as strong support. 

In this series we had almost one sided move for Nifty Bank and this move can't be ruled out in next session also and we are expecting expiry above 27500 levels.  

Option Chain Data.

Nifty

No much conclusion can be found on basis of Options Chain as we have one 1 session left for this series but still as per whole Open Interest it seems expiry shall be above 11200 levels. 

Nifty Bank (Considering only monthly Option Chain)

No much conclusion can be found on basis of Options Chain as we have one 1 session left for this series but still as per whole Open Interest it seems expiry shall be above 27500 levels. 

Put Call Ratio Stands at 2.16 (Over bought) for Nifty whereas for Nifty Bank it is 1.48 (over bought) 

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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.