Nifty & Nifty Bank View for 19/06/2018

CALL PUT BUYERS ARE GETTING TRAPPED IN LAST 3 SESSIONS DUE TO RANGE-BOUND MOVES...!!!

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 18 points loss at 10787 whereas Nifty Future (June Series) closed at 10790 (Premium of 3 points) 

Nifty Bank Closed with 8 points loss at 26409 whereas Bank Nifty Future (June Series) closed at 26386 (Discount of 23 Points) 

Nifty View

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

Resistance ~ 10815-10840-10870-10895-10940

Support ~ 10785-10740-10715-10690-10650-10615-10585-10555-10525-10500-10460

Conclusion

10830-10840 zone for SPOT NIFTY is STRONG HURDLE for Bulls for  next 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 ~ 26450-26520-26615-26650-26765-26900-26970-27045-27145-27230

Support ~ 26325-26255-26069-25920-25810

Conclusion

Though BIG RANGE BUT 26575-26615 is big hurdle for bulls to clear in next 2 sessions. (Fresh View) 

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

Option Chain Data

Nifty

Open Interest  additions on both side of Option chain indicates aggressive participation  of Option Buyer and Writers 

10600 PE is gaining some attraction. 

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) 

27000 CE IS STANDING STRONG AS WALL OF RESISTANCE. 

Put Call Ratio Stands at 1.27 for Nifty whereas for Nifty Bank it is 0.68

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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.