Nifty & Nifty Bank View for 05/04/2018

ONCE AGAIN BEARS ATTACKED FIERCELY AND RESULTED INTO BULL BLOOD ON STREET. 

WE ARE GOING TO START NEW TECHNICAL ANALYSIS BATCH FROM 2nd WEEK OF APRIL, 2018 WITH 4 MONTHS COMPLETE SUPPORT ON/OFF MARKET SUPPORT FOR JUST 5000/- INTERESTED TRADERS MAY CONTACT US ON 08866145155 OR NIFTY50STRIKER@GMAIL.COM

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 Major Loss of 117 points or 1.14% at 10128 whereas Nifty Future (April Series) closed at 10147 (Premium of 19 Points) 

Nifty Bank Closed with Major Loss of 381 points or 1.55% at 24129.50 whereas Bank Nifty Future (April Series) closed at 24148 (Premium of 18.50 Points) 

Nifty View

Let's have look at Nifty future daily chart

Now for next trading session important Resistance & Support Levels (Spot basis) are as under:- 

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

Support ~ 10120-10040-9985-9910-9870-9815

Nifty Bank View

Let's have look at Bank Nifty future daily chart

Now for next trading session important Resistance & Support Levels (Spot basis)are as under:- 

Resistance ~ 24380-24250-24150-24515-24650-24680-24810-25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457

Support ~ 24085-24010-23930-23810-23740

Option Chain Data.

Nifty 

Open Interest data analysis shows sudden surge in 10200-10300-10400-10500 CE which obvious due to sudden fall but more addition below 10000 PE leads to some surprise. 

Nifty Bank (Considering only monthly Option Chain)

Open Interest data analysis shows more addition at 24000 PE on CE Front nothing major. 

Put Call Ratio Stands at 1.02 (Neutral) for Nifty whereas for Nifty Bank it is 1.55 (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.