Nifty & Nifty Bank View for 29/06/2018

10550 WAS NIFTY LEVEL THAT WE HAD DISCUSSED IN FREE WEBINAR AND MORE OR LESS SAME GOT RESPECTED IN JUNE SERIES. CLICK HERE TO WATCH THAT WEBINAR RECORDING 

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FROM 21st JULY 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKEND BATCH (6th IN ROW) JOIN ON OR BEFORE 31st JULY 2018 AND AVAIL EARLY BIRD DISCOUNT (10% ON COURSE FEE) DURATION OF COURSE 4 MONTHS (2 MONTHS WORKSHOP + 2 MONTHS ONLINE/OFFLINE SUPPORT) FOR MORE DETAILS CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE 

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

Nifty Spot Closed with 82 points Loss at 10589 whereas Nifty Future (July Series) closed at 10571 (Discount of 18 Points) 

Nifty Bank Closed with 99 points Loss at 26325 whereas Bank Nifty Future (June Series) closed at 26238 (Discount of 97 Points) 

Nifty View

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

Resistance ~ 10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940

Support ~ 10555-10525-10500-10460

Conclusion

Yesterday's Bearish Engulfing candle proved its worth and resulted into red close today. Now going forward we feel that Nifty may continue downtrend for some more time till 10400 levels but before that 10540-10560 shall act as strong support. 

Nifty Bank View

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

Resistance ~ 26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230

Support ~ 26285-26255-26170-26070-25985-25920-25810

Conclusion

Yesterday's Bearish Engulfing candle proved its worth and resulted into red close today. Now going forward we feel 26000-26100 must act as strong support for next 5 sessions. 

Option Chain Data

Nifty

It will be bit premature to study  Option chain Open Interest data. 

Nifty Bank (Considering only monthly Option Chain)

It will be bit premature to study  Option chain Open Interest data. 

Put Call Ratio Stands at 1.06 for Nifty whereas for Nifty Bank it is 1.08

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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. 

Nifty & Nifty Bank View for 28/06/2018

ON 1st JULY 2018 WE HAVE ARRANGED FREE WEBINAR ON OPEN INTEREST & OPTION CHAIN BASICS. TO REGISTER PLEASE CLICK HERE 

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FROM 21st JULY 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKEND BATCH (6th IN ROW) JOIN ON OR BEFORE 31st JULY 2018 AND AVAIL EARLY BIRD DISCOUNT (10% ON COURSE FEE) DURATION OF COURSE 4 MONTHS (2 MONTHS WORKSHOP + 2 MONTHS ONLINE/OFFLINE SUPPORT) FOR MORE DETAILS CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE 

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

Nifty Spot Closed with 100 points Loss at 10671 whereas Nifty Future (June Series) closed at 10671 (Flat) 

Nifty Bank Closed with 178 points Loss at 26423 whereas Bank Nifty Future (June Series) closed at 26429 (Premium of 6 Points) 

Nifty View

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

Resistance ~ 10690-10715-10740-10785-10815-10840-10870-10895-10940

Support ~ 10650-10615-10585-10555-10525-10500-10460

Conclusion

Today's big red candle is Bearish Engulfing which indicates huge confidence in Bears Camp and that may lead to more downside. 

Next session being expiry session we expect some volatile moves but not like May Expiry.   

FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 10600 SHALL ACT AS STRONG SUPPORT. (REPEAT COMMENT) 

Nifty Bank View

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

Resistance ~ 26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230

Support ~ 26410-26325-26285-26255-26170-26070-25985-25920-25810

Conclusion

Today's big red candle is Bearish Engulfing which indicates huge confidence in Bears Camp and that may lead to more downside. 

Next session being expiry session we expect some volatile moves but not like May Expiry.   

FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 26000 SHALL ACT AS STRONG SUPPORT. (REPEAT COMMENT) 

Option Chain Data

Nifty

Open Interest liquidations can be seen in nearby PE (ITM-ATM-OTM) which can be considered as exit of swing traders. 

FURTHER ADDITIONS IN 10700-10750-10800 CE INDICATES ENTRY OF RETAIL TRADERS (WRITERS) DUE TO NEARBY EXPIRY

Only surprise is Open Interest at 10200 & 10000 PE (VERY OLD & REPEAT COMMENT) 

Nifty Bank (Considering only monthly Option Chain)

Open Interest additions can be seen on 26200-26300 PE side which is just to balance liquidations in 26400 to 27000 PE. 

27000 CE IS STANDING STRONG AS WALL OF RESISTANCE AND ON DOWNSIDE 26000 PE IS HAVING GOOD OPEN INTEREST WHICH MUST ACT AS STRONG SUPPORT EXCEPT ANY BAD NEWS OR DRAMA. 

Put Call Ratio Stands at 1.04 for Nifty whereas for Nifty Bank it is 0.70

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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. 

Nifty & Nifty Bank View for 27/06/2018

TIGHT RANGE-BOUND MOVES BUT RESPECTING OUR LEVELS TO MAXIMUM EXTENT. IN OUR LAST POST WE HAD GIVEN FOLLOWING LEVELS FOR NIFTY & NIFTY BANK.

NIFTY

WHEREAS ACTUAL HIGH AND LOW ARE AS UNDER:- 

OPEN ~ 10742.70

HIGH ~ 10805.25

LOW ~ 10732.55

CLOSE ~ 10769.15

NIFTY BANK 

WHEREAS ACTUAL HIGH AND LOW ARE AS UNDER:- 

OPEN ~ 26495.65

HIGH ~ 26712.60

LOW ~ 26479.65

CLOSE ~ 26601.70

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WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE 

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

Nifty Spot Closed with 7 points Gains at 10769 whereas Nifty Future (June Series) closed at 10758 (Discount of 9 points) 

Nifty Bank Closed with 8 points Loss at 26602 whereas Bank Nifty Future (June Series) closed at 26600 (Discount of 2 Points) 

Nifty View

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

Resistance ~ 10785-10815-10840-10870-10895-10940

Support ~ 10740-10715-10690-10650-10615-10585-10555-10525-10500-10460

Conclusion

Today's candle is DOJI which indicates some indecisiveness which can also be understood with flat close. 

10825-10845 zone for SPOT NIFTY is STRONG HURDLE for Bulls for next session whereas on downside 10710-10720 must act STRONG SUPPORT. 

FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 10600 SHALL ACT AS STRONG SUPPORT. (FRESH UPDATE) 

Nifty Bank View

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

Resistance ~ 26615-26650-26695-26765-26805-26900-26970-27045-27145-27230

Support ~ 26520-26450-26410-26325-26285-26255-26170-26070-25985-25920-25810

Conclusion

Though BIG RANGE BUT 26770-26810 is big hurdle for bulls to clear in next session whereas on downside 26480-26510 must act as strong support NIFTY BANK. 

FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 26000 SHALL ACT AS STRONG SUPPORT. (FRESH UPDATE) 

Option Chain Data

Nifty

Open Interest liquidations can be seen in nearby CE (ITM-ATM-OTM) which can be considered as exit of swing traders. 

FURTHER ADDITIONS IN 10600-10700 PE INDICATES ENTRY OF RETAIL TRADERS (WRITERS) DUE TO NEARBY EXPIRY

Only surprise is Open Interest at 10200 & 10000 PE (VERY OLD & REPEAT COMMENT) 

Nifty Bank (Considering only monthly Option Chain)

Open Interest additions can be seen on both side of Option Chain which indicates aggressive position built-up by market participants (Buyer & Writers) 

27000 CE IS STANDING STRONG AS WALL OF RESISTANCE AND ON DOWNSIDE 26000 & 26500 PE IS HAVING GOOD OPEN INTEREST  (ALMOST SAME) WHICH MUST ACT AS STRONG SUPPORT EXCEPT ANY BAD NEWS OR DRAMA. SO GOING FORWARD 26500 PE SHALL ACT AS IMMEDIATE SUPPORT. 

Put Call Ratio Stands at 1.25 for Nifty whereas for Nifty Bank it is 0.73

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IN CASE OF ANY QUERY/SUGGESTIONS READERS ARE REQUESTED TO CONTACT US NIFTY50STRIKER@GMAIL.COM OR 08866145155

--------------------------------------------------------------------------------------------------------------------------

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.