Nifty & Nifty Bank View for 12/07/2018

WE HAVE ARRANGED 2 FREE WEBINARS ON NEXT SATURDAY & SUNDAY. DETAILS ABOUT SAME ARE AS UNDER:- 

• OPTION GREEKS ON SATURDAY AT 1900 HRS. TO REGISTER CLICK HERE. 
• INTRADAY TRADING ON SUNDAY AT 1230 HRS. TO REGISTER CLICK HERE.

FOR LIVE MARKET UPDATES AND FREE TRADING CALLS ON INDEX (FUTURES AS WELL AS OPTIONS) READERS ARE REQUESTED TO JOIN OUR TELEGRAM CHANNEL 

ALSO IF YOU ARE COMMODITY TRADER (MCX ONLY) THEN YOU MAY JOIN OUR COMMODITY TELEGRAM CHANNEL 

LAST COUPLE OF DAYS OUR TRADING VIEWS/CALLS ARE NOT GOING GOOD AND ENDING UP WITH STOPLOSS TRIGGER BUT WE SHALL ENSURE THAT WE STRIKE BACK WITH GOOD RESEARCH NEXT TIME

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

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 1 point Gain at 10948 whereas Nifty Future (July Series) closed at 10938 (Discount of 10 Points) 

Nifty Bank Closed with 78 points Loss at 26816 whereas Bank Nifty Future (July Series) closed at 26781 (Discount of 35 Points) 

Nifty View

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

Resistance ~ 10980-11020-11045-11070-11000

Support ~ 10940-10895-10870-10840-10815-10785-10740-10715-10690-10650

Conclusion

Expected high was 10975-11025 and actual high was 10959 (yesterday) and we had given clear exit view in our yesterday's blog post. Now if we talk about today's high then it is 10967. 

Going forward if we feel that 10980-11020 shall act as strong resistance for remaining 2 sessions of this week. 

Nifty Bank View

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

Resistance ~ 26900-26970-27045-27145-27230

Support ~ 26805-26765-26695-26650-26615-26520-26450-26410-26325

Conclusion

27000 (+/- 25 points) was our target and Bulls managed to lift Bank Nifty Future 26925...!!! (Old comment) 

Now going forward 27020-27060 shall act as strong resistance zone on closing basis. (Repeat comment) 

Option Chain Data

Nifty

10600 PE has gained highest Open Interest tag but additions in 10700 & 10800 PE indicates situation of Frustrated Bears. Overall about 16 lakhs shares were added in 10700, 10800 and 10900 PE strikes. 

Additions in 11000 CE indicates some attraction left for market participants.  

Nifty Bank 

Weekly Option Chain

26600 PE & 27000 CE are having has gained highest Open Interest tag so that may act as support & resistance. 

Liquidations in 26700-26800 PE shows frustration exit of Bears. Out of Money Option contracts 26900-27000 CE and above shows entry to Greedy Option Traders. 

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. To surprise 28000 CE is also having huge Open Position. (Old comment) 

NOTHING MAJOR IS FOUND. 

Put Call Ratio Stands at 1.44 for Nifty whereas for Nifty Bank it is 1.04

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

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.