Nifty & Nifty Bank View for 20/06/2018

AGGRESSIVE BUILT-UP ON PE FRONT THAT WAS TAKING PLACE IN NIFTY IN LAST 2-3 SESSIONS LEADED TO SOME FALL TODAY.

EARLY INDICATION ABOUT TODAY'S FALL WAS VERY MUCH CLEAR BY NIFTY & BANK NIFTY IN OPENING MOVES ONLY AS BOTH INDICES (CASH AS WELL AS FUTURE) OPEN AND HIGH WAS SAME (WE HAD ALSO UPDATED ABOUT SAME IN OUR TELEGRAM CHANNEL)

FROM 21st JULY 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKEND BATCH (6th IN ROW) JOIN ON OR BEFORE 31st JULY 2018 AND AVAIL EARLY BIRD DISCOUNT (10% ON COURSE FEE) DURATION OF COURSE 4 MONTHS (2 MONTHS WORKSHOP + 2 MONTHS ONLINE/OFFLINE SUPPORT) FOR MORE DETAILS CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

WE HAVE ALREADY SHARED OUR WEEKLY VIEW. 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 89 points loss at 10710 whereas Nifty Future (June Series) closed at 10720 (Premium of 10 points) 

Nifty Bank Closed with 144 points loss at 26266 whereas Bank Nifty Future (June Series) closed at 26258 (Discount of 8 Points) 

Nifty View

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

Resistance ~ 10715-10740-10785-10815-10840-10870-10895-10940

Support ~ 10690-10650-10615-10585-10555-10525-10500-10460

Conclusion

10830-10840 zone for SPOT NIFTY is STRONG HURDLE for Bulls for  next 2 sessions. (Shared in last blog post)

NOW FOR NEXT SESSION 10700 (SPOT NIFTY) WILL ACT AS STRONG SUPPORT ON CLOSING BASIS. ALSO IN INTRADAY FLASHES IF 10650 (WITH LEVERAGE OF 10/20 POINTS) IF SEEN ON SCREEN THAT WOULD BE GOOD OPPORTUNITY  TO SEE CHANGES IN OPTION CHAIN. 

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 ~ 26285-26325-26410-26450-26520-26615-26650-26765-26900-26970-27045-27145-27230

Support ~ 26255-26170-26070-25985-25920-25810

Conclusion

Though BIG RANGE BUT 26575-26615 is big hurdle for bulls to clear in next 2 sessions. (Shared in last blog post)

NOW FOR NEXT SESSION 26070-26170 (SPOT NIFTY BANK) MUST ACT AS STRONG SUPPORT FOR BULLS. IF THAT IS BROKEN THEN NEXT SUPPORT WILL BE AT PSYCHOLOGICAL LEVEL 26000 NOW IF THAT GETS BROKEN THEN PE WRITERS (WEEKLY AS WELL AS MONTHLY) WILL BE IN PANIC BUT WE ARE NOT EXPECTING THAT. 

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

Option Chain Data

Nifty

Open Interest  liquidations can be seen in all ITM PE contracts but still 10600 & 10700 PE is significant. (fresh view) 

Only surprise is Open Interest at 10200 & 10000 PE.  

Nifty Bank (Considering only monthly Option Chain)

Open Interest additions in 26000 & 26100 PE (Weekly) suggests but base built-up for weekly expiry. 

27000 CE IS STANDING STRONG AS WALL OF RESISTANCE. 

Put Call Ratio Stands at 1.15 for Nifty whereas for Nifty Bank it is 0.67

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

WE HAVE ARRANGED FREE WEBINAR ON JUNE SERIES OPTION CHAIN ON 24/06/2018 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.