Nifty & Nifty Bank View for 21/03/2018

CONSOLIDATED MOVES BOTH SIDE VOLATILE MOVES MEANT FOR STOP LOSS TRIGGER AND AT END CLOSING FLAT...!!!

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.

Nifty Spot Closed with Minor Gains points or 0.30% at 10124 whereas Nifty Future (March Series) closed at 10143 (Premium of 19 Points) 

Nifty Bank Closed with Loss of 77 points or 0.32% at 24168 whereas Bank Nifty Future (March Series) closed at 24224 (Premium of 56 points) 

Nifty View

Now for next trading session important Resistance & Support Levels are as under:- 

Resistance ~ 10178-10235-10285-10345-10400-10455-10495-10535-10596-10666-10760-10786-10830-10883

Support ~ 10120-10040-9985

Nifty Bank View

Now for next trading session important Resistance & Support Levels are as under:- 

Resistance ~ 24174-24254-24382-24514-24650-24680-24810-25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457

Support ~ 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. We can see that on side slowly & slowly liquidation is taking place by market participants 

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 0.79 (Oversold) for Nifty whereas for Nifty Bank it is 1.24 (Overbought) 

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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.