Nifty & Nifty Bank View for 15/02/2018

ON ACCOUNT OF POSITIVE CUES FROM ASIAN MARKETS TODAY NIFTY & NIFTY BANK OPEN WITH MINOR GAP BUT THEN ON ACCOUNT OF BAD NEWS IN BANKING SECTOR NIFTY BANK STARTED SHEDDING GAINS AND IN LAST HOUR BULLS LOST CONTROL OVER NIFTY TOO...!!! 

DURING WEEKEND WE ARE GOING TO CONDUCT FREE WEBINARS; LINKS FOR SAME ARE GIVEN AT END OF THIS BLOG POST. 

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 Loss of 38.85 points or 0.37% at 10501 whereas Nifty Future closed at 10554 (Premium of 53 points) 

Nifty Bank Closed with Loss of 360 points or 1.40% at 25341 whereas Bank Nifty Future closed at 25592 (Premium of 251 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 Bears managed to form Bearish Engulfing Candlestick Pattern which is again Bearish signal but once again our support levels rocked...!!! 

In our last posted we had given resistance & support levels as under:- 
Resistance levels are 10596-10666-10760
Support levels are 10495-10455-10400

Whereas actual high is 10590.55 and low is 10456.65 (click on it to get link to last blog post) 

Now for next trading session important Resistance & Support Levels are as under:- 

Resistance ~ 10535-10596-10666
Support ~ 10495-10400-10345-10285

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 Bearish are managing to form Bearish Engulfing Candlestick Pattern which is again Bearish signal...!!! 

Now for next trading session important Resistance & Support Levels are as under:- 

Resistance levels are 25445-25650-25775
Support levels are 25220-25150-25065

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. (Repeat comment) 

Nifty Bank (Considering only monthly Option Chain)

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

Put Call Ratio Stands at 0.87 (Neutral) for Nifty whereas for Nifty Bank it is 1.04 (Neutral) 

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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.