Nifty & Nifty Bank View for 29/06/2018

10550 WAS NIFTY LEVEL THAT WE HAD DISCUSSED IN FREE WEBINAR AND MORE OR LESS SAME GOT RESPECTED IN JUNE SERIES. CLICK HERE TO WATCH THAT WEBINAR RECORDING 

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Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with 82 points Loss at 10589 whereas Nifty Future (July Series) closed at 10571 (Discount of 18 Points) 

Nifty Bank Closed with 99 points Loss at 26325 whereas Bank Nifty Future (June Series) closed at 26238 (Discount of 97 Points) 

Nifty View

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

Resistance ~ 10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940

Support ~ 10555-10525-10500-10460

Conclusion

Yesterday's Bearish Engulfing candle proved its worth and resulted into red close today. Now going forward we feel that Nifty may continue downtrend for some more time till 10400 levels but before that 10540-10560 shall act as strong support. 

Nifty Bank View

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

Resistance ~ 26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230

Support ~ 26285-26255-26170-26070-25985-25920-25810

Conclusion

Yesterday's Bearish Engulfing candle proved its worth and resulted into red close today. Now going forward we feel 26000-26100 must act as strong support for next 5 sessions. 

Option Chain Data

Nifty

It will be bit premature to study  Option chain Open Interest data. 

Nifty Bank (Considering only monthly Option Chain)

It will be bit premature to study  Option chain Open Interest data. 

Put Call Ratio Stands at 1.06 for Nifty whereas for Nifty Bank it is 1.08

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