Nifty & Nifty Bank View for 06/03/2018

STILL BEARS ARE DOMINATING STREET...!!!

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 100 points or 0.95% at 10359 whereas Nifty Future (March Series) closed at 10366 (Premium of 7 points) 

Nifty Bank Closed with Loss of 84 points or 0.34% at 24819 whereas Bank Nifty Future (March Series) closed at 24866 (Premium of 47 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 ~ 10400-10455-10495-10535-10596-10666-10760-10786-10830-10883

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)

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

Resistance ~ 25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457

Support ~ 24810-24650-24514-24382-24254

Option Chain Data.

Nifty

10700 CE is having highest Open Interest which may act as strong resistance where on lower levels where on downside though 10400 PE is having highest Open Interest Spot Nifty closed below that where 2nd highest Open Interest at 10000 PE 

Nifty Bank (Considering only monthly Option Chain)

Long expiry but still if we see Open Interest then 24000 PE on downside and 26000 CE are standing tall which may act as strong support and resistance. 


Put Call Ratio Stands at 0.87 (Near to oversold) for Nifty whereas for Nifty Bank it is 1.05 (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.