STILL BEARS ARE DOMINATING STREET...!!!
AT AROUND 1230 HRS WE HAD SAID THAT 10500 CE MAY GAIN HIGHEST OPEN INTEREST TAG AND BY EOD SAME WAS DONE BY BEARS.
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.AT AROUND 1230 HRS WE HAD SAID THAT 10500 CE MAY GAIN HIGHEST OPEN INTEREST TAG AND BY EOD SAME WAS DONE BY BEARS.
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 Loss of 110 points or 1.06% at 10249 whereas Nifty Future (March Series) closed at 10248 (Discount of 1 point)
Nifty Bank Closed with Loss of 370 points or 1.49% at 24448 whereas Bank Nifty Future (March Series) closed at 24504 (Premium of 56 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)
Resistance ~ 10345-10285-10400-10455-10495-10535-10596-10666-10760-10786-10830-10883
Support ~ 10235-10178-10120-10040-9985
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 ~ 24514-24650-24810-25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457
Support ~ 24382-24254-25174
Option Chain Data.
Nifty
As expected by us during market hours 10500 CE gained highest Open Interest in sudden surprise which may act as strong resistance going forward but 10700 CE is stilling having good Open Interest where on lower levels where on downside though 10000 PE is having highest Open Interest which may act as strong support.
As expected by us during market hours 10500 CE gained highest Open Interest in sudden surprise which may act as strong resistance going forward but 10700 CE is stilling having good Open Interest where on lower levels where on downside though 10000 PE is having highest Open Interest which may act as strong support.
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. But very soon 25500 and then 25000 CE may gain highest Open Interest tag.
Put Call Ratio Stands at 0.80 (Near to oversold) for Nifty whereas for Nifty Bank it is 1.053(Neutral)
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. But very soon 25500 and then 25000 CE may gain highest Open Interest tag.
Put Call Ratio Stands at 0.80 (Near to oversold) for Nifty whereas for Nifty Bank it is 1.053(Neutral)
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