AS EXPECTED IN OUR LAST POST BULLS NOT ONLY GAVE DECENT COMEBACK BUT MANAGED TO CLOSED WITH GAINS OF 88 POINTS & 344 POINTS FOR NIFTY & NIFTY BANK RESPECTIVELY OVER PREVIOUS CLOSE.
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.
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 88 points or 0.87% at 10243 whereas Nifty Future (March Series) closed at 10243 (FLAT)
Nifty Bank Closed with Loss of 344 points or 1.42% at 24478 whereas Bank Nifty Future (March Series) closed at 24508 (Premium of 30 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 ~ 24382-24254-24174-24085-24010-23930-23810-23740
Option Chain Data.
Nifty
As expected sudden surge in 10600 CE leads during previous session protected downside and Bulls managed to close with gains. But today again huge liquidation leads to some doubt over more sudden upside.
As expected sudden surge in 10600 CE leads during previous session protected downside and Bulls managed to close with gains. But today again huge liquidation leads to some doubt over more sudden upside.
Nifty Bank (Considering only monthly Option Chain)
Further 24000 PE Open Interest got reduced by about 100k shares which again leads to easy interpretation of limited downside.
Put Call Ratio Stands at 0.84 (Neutral) for Nifty whereas for Nifty Bank it is 1.06 (Neutral)
Further 24000 PE Open Interest got reduced by about 100k shares which again leads to easy interpretation of limited downside.
Put Call Ratio Stands at 0.84 (Neutral) for Nifty whereas for Nifty Bank it is 1.06 (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.
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