MARKET IS DANCING ON TUNE OF BULLS AND BEARS ON EVERY ALTERNATE DAY...!!!
BUT AT AROUND 1300 HRS WE HAD GIVEN CLEAR CAUTION ON OUR TELEGRAM CHANNEL THAT PUT WRITING IS GOING ON FOR BANK NIFTY WEEKLY EXPIRY (NEAR AND NEXT) MESSAGE WAS AS UNDER:-
"HEAVY WRITING CAN BE SEEN IN 24500-24800 PE STRIKE PRICES"
AT THE END WE CAN SEE THAT NIFTY BANK (SPOT) CLOSED NEAR TO 24800 AND HENCE OUR STUDY ON WRITING ALSO WENT CORRECT TO CERTAIN EXTENT.
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.BUT AT AROUND 1300 HRS WE HAD GIVEN CLEAR CAUTION ON OUR TELEGRAM CHANNEL THAT PUT WRITING IS GOING ON FOR BANK NIFTY WEEKLY EXPIRY (NEAR AND NEXT) MESSAGE WAS AS UNDER:-
"HEAVY WRITING CAN BE SEEN IN 24500-24800 PE STRIKE PRICES"
AT THE END WE CAN SEE THAT NIFTY BANK (SPOT) CLOSED NEAR TO 24800 AND HENCE OUR STUDY ON WRITING ALSO WENT CORRECT TO CERTAIN EXTENT.
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 51 points or 0.49% at 10360 whereas Nifty Future (March Series) closed at 10372 (Premium of 12 Points)
Nifty Bank Closed with Loss of 60 points or 0.24% at 24792 whereas Bank Nifty Future (March Series) closed at 24843 (Premium of 51 points)
Nifty View
Resistance ~ 10400-10455-10495-10535-10596-10666-10760-10786-10830-10883
Support ~ 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 ~ 24680-24650-24514-24382-24254-24174-24085-24010-23930-23810-23740
Option Chain Data.
Nifty
Once again 10500 CE gained highest Open Interest spot which can be understood as stiff resistance going forward. On downside 10000 PE may act as strong support.
Once again 10500 CE gained highest Open Interest spot which can be understood as stiff resistance going forward. On downside 10000 PE may act as strong support.
Nifty Bank (Considering only monthly Option Chain)
Further 24000 PE Open Interest is standing tall as strong support. On upside 25000 CE is having huge Open Interest which may act as strong resistance
Put Call Ratio Stands at 0.95 (Neutral) for Nifty whereas for Nifty Bank it is 1.21 (Overbought)
Further 24000 PE Open Interest is standing tall as strong support. On upside 25000 CE is having huge Open Interest which may act as strong resistance
Put Call Ratio Stands at 0.95 (Neutral) for Nifty whereas for Nifty Bank it is 1.21 (Overbought)
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