Nifty & Nifty Bank View for 24/04/2018

ONCE AGAIN DOJI CANDLE WITH BIG RANGE WITH AS USUAL REJECTION FROM HIGHER LEVELS.!!!

FURTHER WITH CONTINUOUS REJECTION BULLS ENTRY AGAIN FOR BANK NIFTY NOW THINGS ARE NOT GOING TO BE EASY FOR NIFTY BULLS TOO...!!! 

WE HAVE ALREADY SHARED OUR WEEKLY VIEW THOSE WHO MISSED TO READ THAT ARE REQUESTED 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 Gains of 21 points or 0.20% at 10585 whereas Nifty Future (April Series) closed at 1058 (FLAT) 

Nifty Bank Closed with Gains of 17 points or 0.07% at 24961 whereas Bank Nifty Future (April Series) closed at 24947 (Discount of 14 Points) 

Nifty View

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

Resistance ~ 10596-10666-10760-10786-10830-10883

Support ~ 10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815

Nifty Bank View

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

Resistance ~ 25065-25150-25220-25340-25455-25640-25775-25880-25925-26336-26424-26457

Support ~ 24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740

Option Chain Data.

Nifty 

Significant Open Interest liquidations can be seen on CE shows exit of Writers due to low premium. Highest OI PE Front at 10500 whereas on CE front it is at 10700. 

Nifty Bank (Considering only monthly Option Chain)

Some built-up in Open Interest in 25000 to 25200 (CE Front) can be seen whereas on PE Front this range is limited to 24700-24800; which can be considered range shifting. 

Put Call Ratio Stands at 1.53 (Overbought) for Nifty whereas for Nifty Bank it is 1.39 (Overbought) 

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