Nifty & Nifty Bank View for 13/07/2018

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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 75 points Gain at 11023 whereas Nifty Future (July Series) closed at 11016 (Discount of 7 Points) 

Nifty Bank Closed with 210 points Gain at 27027 whereas Bank Nifty Future (July Series) closed at 26995 (Discount of 32 Points) 

Nifty View

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

Resistance ~ 11045-11070-11000

Support ~ 10980-11020-10940-10895-10870-10840-10815-10785

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. (Previous Blog post view) 

Now today's DOJI candle can be pain for Bulls for next session.  

Nifty Bank View

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

Resistance ~ 27045-27145-27230

Support ~ 26900-26970-26805-26765-26695-26650-26615-26520-26450-26410-26325

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) 

Now today's DOJI candle can be pain for Bulls for next session.  

Option Chain Data

Nifty

10600 PE has gained highest Open Interest tag but additions in 10900 & 11100 PE indicates situation of Frustrated Bears. Overall about 22 lakhs shares were added in 10900 & 11000 PE strikes. 


Nifty Bank 

Weekly Option Chain (19 July 2018) 

26800 PE & 27500 CE are having has gained highest Open Interest tag so that may act as support & resistance. 

Monthly Option Chain

26000 PE & 27500 CE are having has gained highest Open Interest tag so that may act as support & resistance. 

Put Call Ratio Stands at 1.56 for Nifty whereas for Nifty Bank it is 1.14

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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.