Nifty & Nifty Bank View for 21/06/2018

MAMMOTH OPEN INTEREST AT 10700 PE ACTED AS SUPPORT AND SOMEHOW BULLS MANAGED TO STEAL SHOW TODAY...!!!

EARLY INDICATION ABOUT PROBABLY UPMOVE IN TODAY'S SESSION HINTED BY 26500 CE (BANK NIFTY ~ WEEKLY EXPIRY) AS IT WAS HAVING OPEN HIGH AS SAME QUOTE. INFACT WE HAD GIVEN TRADING CALL ON THAT ON 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 61 points Gains at 10772 whereas Nifty Future (June Series) closed at 10788 (Premium of 16 points) 

Nifty Bank Closed with 292 points Gains at 26557 whereas Bank Nifty Future (June Series) closed at 26614 (Premium of 57 Points) 

Nifty View

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

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

Support ~ 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. (Shared in last blog post)

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 ~ 26615-26650-26765-26900-26970-27045-27145-27230

Support ~ 26520-26450-26410-26325-26285-26255-26170-26070-25985-25920-25810

Conclusion

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

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 CE contracts but still 10500 & 10800 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 26300 & 26500 PE (Monthly) suggests some downside in next 2 sessions. 

27000 CE IS STANDING STRONG AS WALL OF RESISTANCE. 

Put Call Ratio Stands at 1.20 for Nifty whereas for Nifty Bank it is 0.71

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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.