Nifty & Nifty Bank View for 18/07/2018

IDEALLY WE DO NOT SHARE STOCK FUTURE TRADES BUT TODAY SHARED OUR VIEW WELL IN ADVANCE ON OUR TELEGRAM CHANNEL. TO READ THAT POST CLICK HERE AFTER THAT WE HAD SHARED TRADING VIEW ON UNION BANK STOCK FUTURE IN WHICH WE GAINS MORE THAN 5 POINTS OR MORE THAN 30000/LOT...!!! TO READ THAT VIEW CLICK HERE ALONG WITH THAT WE HAD ALSO GIVE OPTION TRADE IN ANOTHER PSU BANK WHICH ALSO GAVE RETURN MOR THAN 2000/LOT. TO READ THAT VIEW CLICK HERE

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

• INDICATOR ADJUSTMENT ON SUNDAY  AT 1100 HRS. TO REGISTER CLICK HERE. 
• AVERAGE TRUE RANGE & TRUE RANGE ON SUNDAY AT 1230 HRS. TO REGISTER CLICK HERE.

RECORDINGS OF OLD WEBINARS CAN BE FOUND HERE

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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

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 71 points Gain at 11008 whereas Nifty Future (July Series) closed at 11024 (Premium of 16 Points) 

Nifty Bank Closed with 328 points Gain at 27008 whereas Bank Nifty Future (July Series) closed at 27088 (Premium of 80 Points) 

Nifty View

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

Resistance ~ 11020-11045-11070-11000

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

Conclusion

In our weekly post we had expected some consolidated moves in first 2 days and more or less with trending move of opposite side Nifty closed Flat...!!!

Nifty Bank View

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

Resistance ~ 27045-27145-27230

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

Conclusion

26500 should act as strong support going forward. Next session may act as reversal  candle and/or final day for Bears in this week. (Previous blog post comment)

Now only 2 sessions left for Weekly expiry we feel Bulls shall try hard to lift Bank Nifty up more by 200 or points or so. 

Option Chain Data

Nifty

Close above highest CE Open Interest 2nd time in series reflects confidence in CE Option Buyer front. But some consolidation cant be ruled out in next session. 

Nifty Bank 

Weekly Option Chain (19 July 2018) 

During market hours we indirectly hinted on our Telegram Channel as well on Twitter handle about some drastic changes may take place on option chain... 

Anyway in next session we expect some more panic in CE writer front.

Monthly Option Chain

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

Put Call Ratio Stands at 1.53 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.