Nifty & Nifty Bank View for 31/05/2018

2 BANK NIFTY OPTION CALLS AND BOTH ROCKED...!!!

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t.me/nifty50striker/4112

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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 Loss of 19 points at 10614 whereas Nifty Future (May Series) closed at 10613 (Discount of 1 point) 

Nifty Bank Closed with Gains of 73 points at 26328 whereas Bank Nifty Future (May Series) closed at 26272 (Discount of 56 Points) 

Nifty View

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

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

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

Conclusion

Close below 10600 may give more strength to bears which may lead to some bad expiry. (Previous post comment) 

Now next session being an expiry some volatility can't be ruled out.

Nifty Bank View

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

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

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

Conclusion


Close below 26100 may give more strength to bears which may lead to some bad expiry. (Previous post comment) 

Now next session being an expiry some volatility can't be ruled out.

Option Chain Data

Nifty

Open Interest data gives hint of expiry between 10620-10680

Nifty Bank (Considering only monthly Option Chain)


Open Interest data gives hint of expiry between 26200-26400

Put Call Ratio Stands at 1.21 for Nifty whereas for Nifty Bank it is 1.22  

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