Nifty & Nifty Bank View for 05/06/2018

WHATEVER BULLS TRIED TO LIFT ON LAST THURSDAY (MAY SERIES EXPIRY) BEARS MANAGED TO CARNAGE IN LAST 2 DAYS EVEN MORE. 

TODAY WE HAD GIVEN BANK NIFTY OPTION CALL ON OUR TELEGRAM CHANNEL BUT UNFORTUNATELY STOPLOSS WAS TRIGGERED WHICH WAS ON EXPECTATION ON SOME PULL BACK AFTER FIRST 45 MINS FALL. 

BUT OUR STUDENT GROUP CHITCHAT WITH STUDENT (EXPECTATION WAS TILL WEEKLY EXPIRY BUT MORE OR LESS ENTIRE MOVE WAS COMPLETED TODAY ONLY) 

FROM JUNE 11, 2018 WE ARE GOING TO START FRESH WEEKDAY BATCH ON TECHNICAL ANALYSIS FOR JUST 5000/- FOR 4 MONTHS. 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 Loss  of 68 points at 10629 whereas Nifty Future (June Series) closed at 10599 (Discount of 30 points) 

Nifty Bank Closed with Loss of 435 points at 26258 whereas Bank Nifty Future (May Series) closed at 26190 (Discount of 68 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

Today's Big Red candle can be considered follow-up of Frdiay's small move now all depends on 10500 spot Nifty as strong support on closing basis. 

Nifty Bank View

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

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

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

Conclusion


Today's Big Red candle can be considered follow-up of Frdiay's small move now all depends on 26000 spot Nifty Bank as strong support on closing basis. 

Option Chain Data

Nifty

Open Interest built-up can be seen on 10600 & 10200 PE OI. CE front 11000 is having huge OI which may act as strong resistance. 

Nifty Bank (Considering only monthly Option Chain)

Open Interest data suggest range for this series would be 25600-27000 (Highest OI)

Put Call Ratio Stands at 1.02 for Nifty whereas for Nifty Bank it is 0.71

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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.