Nifty & Nifty Bank View for 25/04/2018

NEWER HIGH FOR NIFTY FUTURE BUT STILL FACING RESITANCE HIGHER LEVELS (INFACT ON CHARTS ALSO) BUT STILL BULLS ARE ON BACK SEAT FOR BANK NIFTY FUTURE...!!!

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 30 points or 0.28% at 10614 whereas Nifty Future (April Series) closed at 10618 (Premium of 4 points) 

Nifty Bank Closed with Gains of 81 points or 0.33% at 25042 whereas Bank Nifty Future (April Series) closed at 25014 (Discount of 28 Points) 

Nifty View


Lets have look at Nifty Future Daily Chart

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

Resistance ~ 10666-10760-10786-10830-10883

Support ~ 10596-10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815

Nifty Bank View


Lets have look at Bank Nifty Future Daily Chart

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

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

Support ~ 25065-24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740

Option Chain Data.

Nifty 

Significant Open Interest liquidations can be seen on CE shows exit of Writers due to low premium. (Repeat comment) 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 25100 to 25500 (CE Front) can be seen whereas on PE Front this range is limited to 24500-24500; which can be considered range shifting. 

Put Call Ratio Stands at 1.63 (Overbought) for Nifty whereas for Nifty Bank it is 1.32 (Overbought) 

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