Nifty & Nifty Bank View for 14/06/2018

RANGE-BOUND MOVES AND OPTION PREMIUM CHEWING...!!! 

UPDATED NIFTY BANK CHART ON 60 MINS TIME-FRAME. BULLS MANAGED TO GIVE SYMMETRICAL TRIANGLE BREAKOUT BUT FACED RESISTANCE AT HIGHER LEVELS.

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 14 points Gains at 10857 whereas Nifty Future (June Series) closed at 10849 (Discount of 8 points) 

Nifty Bank Closed with 36 points Gains at 26643 whereas Bank Nifty Future (May Series) closed at 26651 (Premium of 8 Points) 

Nifty View

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

Resistance ~ 10883-10970-11045-11000

Support ~ 10830-10786-10760-10666-10596-10535-10495-10455-10400-10345-10285-10178-10235-10120-10040-9985-9910-9870-9815

Conclusion

10890-10930 zone for SPOT NIFTY is STRONG HURDLE for Bulls for  next 2 sessions. 

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 ~ 26760-26890-27065-27250-27400

Support ~ 26615-26457-26424-26336-26135-25925-25880-25640-25775-25455-25340-25220-25150-25065-24810-24680-24650-24515-24150-24250-24380-24085-24010-23930-23810-23740

Conclusion

Though BIG RANGE BUT 26760-26855 is big hurdle for bulls to clear in next 2 sessions. 

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

Option Chain Data

Nifty

Open Interest additions in 10700 to 10900 PE reflects frustration of Bears which has also resulted into shifting of highest Open Interest from 10600 to 10700 on PE front. 

Only surprise is Open Interest at 10200 & 10000 PE.  

Nifty Bank (Considering only monthly Option Chain)

Open Interest data suggest range for this series would be 26000-27000 (Highest OI) shifting from 25500 to 26000 has taken place. (Repeat Comment) 

BUT SURPRISE ADDITIONS IN 28000 CE IN LAST 5 SESSIONS IS QUITE SURPRISING WHICH GIVES HINT OF SOME DRAMATIC JUNE EXPIRY  

Put Call Ratio Stands at 1.44 for Nifty whereas for Nifty Bank it is 0.81

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

WE HAVE ARRANGED FREE WEBINAR ON JUNE SERIES OPTION CHAIN ON 17/06/2018 AT 12 PM TO REGISTER CLICK HERE. 

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

YOUTUBE CHANNEL 

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

FOR LIVE MARKET UPDATE & FREE OPTION CALLS JOIN:- 

T.ME/NIFTY50STRIKER

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

SOCIAL MEDIA TOUCH POINTS:-

T.ME/NIFTY50STRIKER

FACEBOOK.COM/NIFTY50STRIKER

TWITTER.COM/NIFTY50STRIKER

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

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.