Nifty & Nifty Bank View for 07/06/2018

EVERYDAY IS NOT TRADING DAY IF YOU ARE NOT FULL TRADER. THAT IS ONE OF THE REASON FROM LAST 2 DAYS WE ARE POSTING SOME WAY OR OTHER EDUCATIONAL POST IN OUR TELEGRAM CHANNEL. TODAY JUST AFTER MARKET OPENING WE HAD GIVEN CLEAR CAUTION THAT THOUGH BANK NIFTY FUTURE OPEN HIGH WAS SAME IT WAS NOT SHORTING OPPORTUNITY. 

NOT ONLY THAT WE HAD TRIED TO CLEAR THAT BY SIMPLE ANOTHER MESSAGE IN OUR TELEGRAM CHANNEL TO READ THAT MESSAGE CLICK HERE

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NOT ONLY THAT IN OUR MORNING EDUCATION POST ON OUR TELEGRAM CHANNEL, FACEBOOK PAGE & TWITTER HANDLE ON BOLLINGER BAND AND WE GIOT LIVE MARKET EXAMPLE FOR THAT TODAY AFTER POLICY ANNOUNCEMENT. BELOW IS CHART FOR SAME.

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 92 points at 10685 whereas Nifty Future (June Series) closed at 10686 (Premium of 1 point) 

Nifty Bank Closed with Loss of 7 points at 26368 whereas Bank Nifty Future (May Series) closed at 26392 (Premium of 24 Points) 

Nifty View

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

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

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

Conclusion

Today's GOOD GREEN CANDLE has cleared more than 50% of losses made by bulls in last 2 sessions. (fresh view) 

FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 10500 SHALL ACT AS STRONG SUPPORT. 

Nifty Bank View

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

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

Support ~ 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 has not yet giving convincing come back by Bulls. for Tomorrow expiry we are not expecting any big bang move. 


FOR ENTIRE SERIES WE STILL HOLD SAME VIEW 25500 SHALL ACT AS STRONG SUPPORT. 

Option Chain Data

Nifty

Open Interest built-up can be seen on 10400 & 10500 PE OI. CE front good additions can be seen in 10600 to 11000 which can be considered planning by bulls to strike back in very soon. (Previous blog post comment) 

Only surprise is Open Interest at 10200 PE. 

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 1.10 for Nifty whereas for Nifty Bank it is 0.74

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