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Tuesday 15 May 2018

Nifty & Nifty Bank View for 16/05/2018

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Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

 Nifty Spot Closed with Minor Loss  at 5 points at 10802 whereas Nifty Future (May Series) closed at 10819 (Premium of 17 points) 

 Nifty Bank Closed with Flat of 26474 whereas Bank Nifty Future (May Series) closed at 26515 (Premium of 41 Points) 

 Nifty View


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

Resistance ~ 10830-10883-10970-11045-11000

Support ~ 10786-10760-10666-10596-10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815

 Conclusion
Today's DOJI candle shows indecisive mode on end of day chart this is mainly due to event today and huge volatility.  

Nifty Bank View

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

Resistance ~ 26615-26760-26890-27065-27250-27400

 Support ~ -26457-26424-26336-26135-25925-25880-25640-25775-25455-25340-25220-25150-25065-24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740

 Conclusion
Today's DOJI candle shows indecisive mode on end of day chart this is mainly due to event today and huge volatility.  

Option Chain Data

 Nifty

 Looking Open Interest data some negative surprise can't be ruled out tomorrow. (Last post view) and result is in front of us.

 Nifty Bank (Considering only monthly Option Chain)

 Huge Open Open Interest can be seen on 26500 CE which may act as stiff resistance. (Repeat comment) which was surpassed today but again on closing things again in control.  

 Put Call Ratio Stands at 1.35 (Overbought) for Nifty whereas for Nifty Bank it is 0.97 (Neutral) 
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1 comment:

  1. Rudra Investment1 June 2018 at 16:40

    Free Bank Nifty Tips , Nifty trading is the best part of the stock markets. This package usually helps traders to trade technically in times of market volatility, and also provides tips on nifty future based on pure technical analysis.

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