ON ACCOUNT OF POSITIVE CUES FROM SGX NIFTY BULLS MANAGED TO OPEN NIFTY & NIFTY BANK ON UPSIDE BUT TILL CLOSE OF TRADING SESSION IT WAS TUG OF WAR BETWEEN BULLS AND BEARS.
DURING WEEKEND WE ARE GOING TO CONDUCT FREE WEBINARS; LINKS FOR SAME ARE GIVEN AT END OF THIS BLOG POST.
AGGRESSIVE BEARISH PATTERN WHICH WE HAD DISCUSSED ON OUR WEEKLY VIEW BLOG POST IS NOT GETTING MORE AND MORE CONFIRMATION. TO READ THAT BLOG POST CLICK HERE.
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.DURING WEEKEND WE ARE GOING TO CONDUCT FREE WEBINARS; LINKS FOR SAME ARE GIVEN AT END OF THIS BLOG POST.
AGGRESSIVE BEARISH PATTERN WHICH WE HAD DISCUSSED ON OUR WEEKLY VIEW BLOG POST IS NOT GETTING MORE AND MORE CONFIRMATION. TO READ THAT BLOG POST CLICK HERE.
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.
Nifty Spot Closed with Gains of 37 points or 0.36% at 10397 whereas Nifty Future closed at 10393 (Discount of 4 points)
Nifty Bank Closed with Gains of 62 points or 0.25% at 24937 whereas Bank Nifty Future closed at 24929 (Discount of 8 points)
Nifty View
Now lets have look at Nifty (Cash/Spot) Daily Chart.
Resistance ~ 10400-10455-10495-10535
Support ~ 10345-10285-10235
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)
Resistance levels are 25065-25150-25220-25340-25455-25650
Support levels are 24810-24650
Option Chain Data.
Nifty
Huge additions can be seen in Open Interest at 10300 PE which may act as support but if we talk on CE front then 10500 CE is having highest Open Interest which may act as resistance.
BUT NEXT SERIES OPTION CHAIN IS SHOWING SOME DIFFERENT PICTURE ALTOGETHER. AS PER THAT WE ARE EXPECTING FALL BELOW 10000 IN MARCH SERIES AND THAT MAY COMPLETE OUR INVERTED FLAG AND POLE TARGET.
Huge additions can be seen in Open Interest at 10300 PE which may act as support but if we talk on CE front then 10500 CE is having highest Open Interest which may act as resistance.
BUT NEXT SERIES OPTION CHAIN IS SHOWING SOME DIFFERENT PICTURE ALTOGETHER. AS PER THAT WE ARE EXPECTING FALL BELOW 10000 IN MARCH SERIES AND THAT MAY COMPLETE OUR INVERTED FLAG AND POLE TARGET.
Nifty Bank (Considering only monthly Option Chain)
Huge Open Interest can be seen at 24500 PE whereas on CEfront highest Open Interest on tag is with 25500 CE
Put Call Ratio Stands at 0.72 (Near to Oversold zone) for Nifty whereas for Nifty Bank it is 0.75 (Oversold zone)
Huge Open Interest can be seen at 24500 PE whereas on CEfront highest Open Interest on tag is with 25500 CE
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