AFTER VERY LONG TIME BULLS WERE ON DRIVER SEAT WHICH RESULTED INTO ALMOST DOUBLE CENTURY FOR NIFTY WHERE BULLS MANAGED TO SCORE TRIPLE CENTURY FOR NIFTY BANK.
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 194 points or 1.90% at 10421 whereas Nifty Future (March Series) closed at 10433 (Premium of 12 Points )
Nifty Bank Closed with Gains of 368 points or 1.51% at 24664 whereas Bank Nifty Future (March Series) closed at 24748 (Premium of 84 points)
BEFORE WE MOVE FURTHER LETS HAVE LOOK AT OUR SIMPLE STRATEGY BASED NIFTY CHART. (ON BASIS OF TRENDLINE AND BOLLINGER BAND)
Nifty View
Resistance ~ 10455-10495-10535-10596-10666-10760-10786-10830-10883
Support ~ 10400-10345-10285-10235-10178-10120-10040-9985
Nifty Bank View
Resistance ~ 24810-25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457
Support ~ 24514-24650-24382-24254-24174-24085-24010-23930-23810-23740
Option Chain Data.
Nifty
Sudden surge in 10600 CE leads change in highest Open Interest now with expiry coming near PE front change in highest Open Interest cannot be ruled out.
Sudden surge in 10600 CE leads change in highest Open Interest now with expiry coming near PE front change in highest Open Interest cannot be ruled out.
Nifty Bank (Considering only monthly Option Chain)
Further 24000 PE Open Interest got additions by about 100k shares which again leads to easy interpretation of limited downside.
Put Call Ratio Stands at 1.00 (Neutral) for Nifty whereas for Nifty Bank it is 1.21 (Overbought)
Further 24000 PE Open Interest got additions by about 100k shares which again leads to easy interpretation of limited downside.
Put Call Ratio Stands at 1.00 (Neutral) for Nifty whereas for Nifty Bank it is 1.21 (Overbought)
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