Nifty & Nifty Bank View for 04/07/2018

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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 43 points Gains  at 10700 whereas Nifty Future (July Series) closed at 10732 (Premium of 32 Point) 

Nifty Bank Closed with 26 points Loss at 26204 whereas Bank Nifty Future (June Series) closed at 26271 (Premium of 67 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

Today's candle formation is bullish harami. Now if we talk about Nifty Future Bulls managed to close at day high level which has resulted into increase of premium. Some consolidation type moves cannot be ruled out in next session. 

Nifty Bank View

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

Resistance ~ 26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230

Support ~ 26170-26070-25985-25920-25810

Conclusion

Today's Doji shows tough fight between market participants. So again Today's HIGH & LOW shall act as strong resistance & support for next session. 

Option Chain Data

Nifty

10500 PE has gained highest Open Interest tag so that may act as strong support where on CE front 11000 is having Open Interest tag which may act as strong resistance. 

Nifty Bank 

Weekly Option Chain

26000 PE & 26500 CE are having has gained highest Open Interest tag so that may act as support & resistance. Still built-up can be seen in weekly contract which is probably due to good volatile moves. 

Monthly Option Chain

26000 PE & 26500 CE are having has gained highest Open Interest tag so that may act as support & resistance. Still built-up process can be seen. 

Put Call Ratio Stands at 1.13 for Nifty whereas for Nifty Bank it is 1.06

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