Nifty & Nifty Bank View for 16/02/2018

ONCE AGAIN ON ACCOUNT OF POSITIVE CUES FROM SGX NIFTY AND US MARKET TODAY TODAY NIFTY & NIFTY BANK OPEN WITH MINOR GAP ON UP SIDE BUT THEN AFTER 1330 HRS SUDDENLY BOTH INDICES LOST MOMENTUM AND BEARS CAME ON DRIVER SEAT BUT AGAIN TOWARDS CLOSE BULLS TOOK CHARGE AND WE CLOSE WITH MINOR GAINS. 

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 Gains of 45 points or 0.42% at 10546 whereas Nifty Future closed at 10551 (Premium of 5 points) 

Nifty Bank Closed with Gains of 83 points or 0.33% at 25424 whereas Bank Nifty Future closed at 25419 (Discount of 5 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)

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

Resistance ~ 10596-10666-10760
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)

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

Resistance levels are 25445-25650-25775
Support levels are 25340-25220-25150-25065

Option Chain Data.

Nifty

Huge Open Interest can be seen at 10500 PE which may act as strong support. Now if we talk about CE front then 11100 CE is having highest Open Interest tag which may act as resistance. 

Nifty Bank (Considering only monthly Option Chain)

Huge additions can be seen in 25000 PE and with that 26500 PE lost highest Open Interest tag. On 26000 CE is having huge Open Interest which may act as stiff resistance going forward.

Put Call Ratio Stands at 0.92 (Neutral) for Nifty whereas for Nifty Bank it is 1.09 (Neutral) 

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Link to Free Webinars

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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.