Nifty & Nifty Bank View for 25/05/2018

AT AROUND 10:15 AM WE HAD GIVEN CAUTION ON OUR TWITTER HANDLE AS WELL AS ON OUR TELEGRAM CHANNEL THAT ONE SHOULD NOT GO SHORT.

NOT ONLY THAT WE HAD ALSO SHARED OUR VIEW IN OUR STUDENTS GROUP ON BANK NIFTY WEEKLY EXPIRY AND LATER ON BASIS OF THAT WE HAD SHARED GIVEN BANK NIFTY OPTION CALL IN OUR TELEGRAM CHANNEL. 



WE HAVE ARRANGED FREE WEBINAR ON BASIC VOLATILITY INDICATOR ON SUNDAY. TO REGISTER FOR THAT WEBINAR CLICK HERE

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 84 points at 10514 whereas Nifty Future (May Series) closed at 10505 (Discount of 9 points) 

Nifty Bank Closed with Gains of 332 points at 26017 whereas Bank Nifty Future (May Series) closed at 25916 (Discount of 101 Points) 

Nifty View

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

Resistance ~ 10535-10596-10666-10760-10786-10830-10883-10970-11045-11000

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

Conclusion

Today's Big red candle indicates sudden strike by Bears after pause in yesterday's session. Going forward Bulls must strike back in session or 2 else chances Bears may get more strength which may end up with Nifty touching 10300-10350 zone before week close. (Last blog post view) 

Now with today's big Green Candle we can say that Bulls have strike back but that needs to be confirmed in next 2 sessions with good green positive closes. But 10800 is must cleared for new life high in May Series. (Fresh View) 

Nifty Bank View

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

Resistance ~ 26135-26336-26424-26457-26615-26760-26890-27065-27250-27400

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

Conclusion


Today's Red Doji candle reflects weakness after yesterday's pause but 25500 may act as strong support. (Last blog post view) 

Now with today's big Green Candle we can say that Bulls have strike back but that needs to be confirmed in next 2 sessions with good green positive closes but 26500 may act as strong hurdle. (Fresh View) 

Option Chain Data

Nifty

Liquidation in Open Interest in strike price 10300 to 10600 reflects profit booking on CE Front. 

Nifty Bank (Considering only monthly Option Chain)

Huge Open Open Interest can be seen on 26500 CE which may act as stiff resistance. Now going forward more upside above 26500 can only be expected once Bulls manages to close above 26500 for Spot Nifty Bank (Repeat Para)

Closing at highest level of day indicates more upside left but still Option Chain data reflects some range bound moves. 

Put Call Ratio Stands at 1.02 (Neutral) for Nifty whereas for Nifty Bank it is 0.96 (Neutral) 

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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.