Nifty & Nifty Bank View for 15/06/2018

CALL PUT BUYERS ARE IN LAST 2 DAYS DUE TO RANGE-BOUND MOVES...!!!

TILL NOW WHATEVER WE HAD EXPECTED IN OUR WEEKLY VIEW BOTH INDICES ARE MOVING IN THAT RANGE ONLY...!!!

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 49 points loss at 10808 whereas Nifty Future (June Series) closed at 10814 (Premium of 6 points) 

Nifty Bank Closed with 81 points loss at 26562 whereas Bank Nifty Future (May Series) closed at 26581 (Premium of 19 Points) 

Nifty View

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

Resistance ~ 10815-10840-10870-10895-10940

Support ~ 10785-10740-10715-10690-10650-10615-10585-10555

Conclusion

10890-10930 zone for SPOT NIFTY is STRONG HURDLE for Bulls for  next 2 sessions. (Repeat comment) 

NOW GOING AHEAD FOR NEXT SESSION BULLS MAY WORK HARD TO CROSS 10840 BUT WE FEEL IT WILL NOT BE POSSIBLE FOR THEM TO DO SO ON CLOSING BASIS. 

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 ~ 26615-26765-26900-26970-27045-27145-27230

Support ~ 26520-26450-26255-26069-25920-25810

Conclusion

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

GOING FORWARD FOR NEXT SESSION WE WOULD LIKE TO SAY THAT BULLS MAY FIND IT DIFFICULT TO CROSS 26650 

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

Option Chain Data

Nifty

Open Interest liquidation in 11000 to 10000 PE relief exit for PE buyers. 

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 1.32 for Nifty whereas for Nifty Bank it is 0.76

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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.