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Wednesday 2 May 2018

Nifty & Nifty Bank View for 03/05/2018

WHATEVER WE HAD DISCUSSED ON KOTAK BANK IN OUR STUDENT'S GROUP SAME HAS HAPPENED LATER ON TODAY...!!!


FROM MAY 19, 2018 WE ARE GOING TO START FRESH WEEKEND BATCH ON TECHNICAL ANALYSIS. FOR MORE DETAILS CONTACT 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

 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 minor Loss of 21 points or 0.20% at 10718 whereas Nifty Future (May Series) closed at 10739 (Premium of  21 points) 

 Nifty Bank Closed with minor Gain of 37 points or 0.14% at 25568 whereas Bank Nifty Future (May Series) closed at 25644 (Premium of 76 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 ~ 10760-10786-10830-10883-10970-11045-11000

Support ~ 10666-10596-10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815

 Conclusion 
We can see that nifty future has faced resistance at 10755 level so going forward if bulls managed to clear this then only more upside can be seen else again on downside support of 10685 may act strong support. 

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 ~ 25640-25775-25880-25925-26336-26424-26457

 Support ~ 25455-25340-25220-25150-25065-24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740

 Conclusion 

We can see that bank Nifty Future has given clear breakout from resistance zone so more upside cant be ruled. but going forward 25750-25780 may act as strong resistance. (Respect comment) 

 Going forward 25450-24750 may act as range for next 2 sessions. 

Option Chain Data.

Nifty 
We can see that slowly slowly Open Interest data is getting built and with that we can see 10500 PE shall act as strong support and on upside 11000 CE may act as resistance. (Repeat comment) 

 Nifty Bank (Considering only monthly Option Chain)
Huge Open Open Interest can be seen 24000 & 24500 PE which can be considered as strong support. (Repeat Comment) 

 Put Call Ratio Stands at 1.23 (Overbought) for Nifty whereas for Nifty Bank it is 1.28 (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. 
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1 comment:

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