Nifty & Nifty Bank View for 14/02/2018

DURING LAST TRADING SESSION BULLS MANAGED TO GAIN MOMENTUM IN 2nd HALF AND THEN SOMEHOW BULLS MANAGED TO CLOSE NEAR TO DAY'S HIGH. 

ANYWAY WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY AND NIFTY BANK INCASE IF YOU HAVE MISSED THAT WE REQUEST YOU TO CLICK HERE TO READ IT.  

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

Nifty Spot Closed with Gains of 84.80 points or 0.81% at 10540 whereas Nifty Future closed at 10543 (Premium of 3 points) 

Nifty Bank Closed with Gains of 238 points or 0.93% at 25702 whereas Bank Nifty Future closed at 25706 (Premium of 4 points) 

Nifty View

Now lets have look at Nifty (Cash/Spot) Daily Chart.

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

We can see that some how Bulls are managing to recover from recent carnage done by Bears but till the time Bulls are not able to clear 10630-10650 zone on closing basis more pain can't be ruled out but on downside recent low of 10276 shall play crucial role. 

Resistance levels are 10596-10666-10760
Support levels are 10495-10455-10400

Nifty Bank View

Now lets have look at Nifty Bank (Cash/Spot) Daily Chart.

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

We can see that some how Bulls are managing to recover from recent carnage done by Bears but till the time Bulls are not able to clear 25880-25925 on closing basis more pain can't be ruled out but on downside recent low of 25023 shall play crucial role. 

Resistance levels are 25775-25880-25925
Support levels are 25650-25455-25340

Option Chain Data.

Nifty

Good fight is going on between 10000 & 10500 PE for gaining highest Open Interest tag.  Now if we talk about CE front then 11500 CE has lost highest Open Interest tag and for that post 11000 & 11100 CE is in tough fight. 

Nifty Bank (Considering only monthly Option Chain)

Though 26500 PE is having highest Open Interest spot closed below that whereas on 28000 CE is having huge Open Interest which may act as stiff resistance going forward. (Repeat Comment) 

Put Call Ratio Stands at 0.89 (Neutral) for Nifty whereas for Nifty Bank it is 1.14 (Neutral) 

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