ONCE AGAIN BEARS MANAGED TO CONTROL TAKE LEAD ROLE WHICH RESULTED INTO LOSS OF ABOUT 100 POINTS FOR NIFTY WHEREAS FOR NIFTY BANK LOSS IS ABOUT 250 POINTS...!!!
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 Loss of 101 points or 0.99% at 10094 whereas Nifty Future (March Series) closed at 10123 (Premium of 29 Points)
Nifty Bank Closed with Loss of 244 points or 1.00% at 24245 whereas Bank Nifty Future (March Series) closed at 24337 (Premium of 82 points)
Nifty View
Resistance ~ 10120-10178-10235-10285-10345-10400-10455-10495-10535-10596-10666-10760-10786-10830-10883
Support ~ 10040-9985
Nifty Bank View
Resistance ~ -24254-24382-24514-24650-24680-24810-25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457
Support ~ 24174-24085-24010-23930-23810-23740
Option Chain Data.
Nifty
Highest Open Interest on PE front is at 10000 PE whereas on CE front it is at 10500 which may act as support and resistance.
Highest Open Interest on PE front is at 10000 PE whereas on CE front it is at 10500 which may act as support and resistance.
Nifty Bank (Considering only monthly Option Chain)
Further 24000 PE Open Interest is standing tall as strong support (throught out series) but it should be noted that 24500 PE is having highest Open Interest which creates some confusion. On CE front 25000 CE is having huge Open Interest which may act as strong resistance
Put Call Ratio Stands at 0.77 (Oversold) for Nifty whereas for Nifty Bank it is 1.31 (Overbought)
Further 24000 PE Open Interest is standing tall as strong support (throught out series) but it should be noted that 24500 PE is having highest Open Interest which creates some confusion. On CE front 25000 CE is having huge Open Interest which may act as strong resistance
Put Call Ratio Stands at 0.77 (Oversold) for Nifty whereas for Nifty Bank it is 1.31 (Overbought)
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