Nifty & Nifty Bank View for 05/07/2018

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TODAY WE HAD GIVEN BANK NIFTY OPTION CALL WITH SMALL STOP LOSS BUT JUST AFTER OUR STOPLOSS  WAS TRIGGERED IT ZOOMED AND MADE HIGH OF 378...!!!! ANYWAY WE SHALL STRIKE BACK WITH BETTER RESEARCH AND TRADING CALL.

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FROM 21st JULY 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKEND BATCH (6th IN ROW) JOIN ON OR BEFORE 31st JULY 2018. 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

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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 70 points Gains  at 10770 whereas Nifty Future (July Series) closed at 10766 (Discount of 4 Points) 

Nifty Bank Closed with 230 points Gains at 26434 whereas Bank Nifty Future (June Series) closed at 26425 (Discount of 9 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

Today's high of 10777 is near to our resistance of 10785 so going forward Bulls may face resistance near to that level but we feel that some more upside till 10810-10825 zone spot NIFTY can't be ruled out. 

Nifty Bank View

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

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

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

Conclusion

26520 spot should act as resistance in next session as we feel next session being weekly expiry some volatile moves can't be ruled out. 

Option Chain Data

Nifty

10600 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

26200 PE & 26500 CE are having has gained highest Open Interest tag so that may act as support & resistance. Huge liquidation can be seen ITM CE contracts that may be considered as Profit booking (Buyer's Front) or Loss booking (Writer's Front) but on PE front we feel that some aggressive traders have taken entry on buying front with expectation of some fall in next session. 

Monthly Option Chain

25500 PE & 27000 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 1.25 for Nifty whereas for Nifty Bank it is 1.05

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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.