Nifty & Nifty Bank View for 19/07/2018

PROFIT OF MORE THAN 3500/LOT IN FREE BANK NIFTY OPTION TRADING CALL WHICH WE HAD SHARED ON OUR TELEGRAM CHANNEL. TO VIEW THAT TRADING CALL 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

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 28 points Loss at 10980 whereas Nifty Future (July Series) closed at 10979 (Discount of 1 Point) 

Nifty Bank Closed with 127 points Loss at 26881 whereas Bank Nifty Future (July Series) closed at 26931 (Premium of 50 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

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 ~ 26900-26970-27045-27145-27230

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

Conclusion

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. (Previous blog post)

Bulls manage to lift Nifty Bank about 180 points from previous close. 

26500 must act as strong support for remaining 2 sessions of this week. 

Option Chain Data

Nifty

Huge liquidation can be seen on PE front. We still feel that 10800 shall be protected by Bulls in this series. Nothing much convincing can be seen on CE Front.  

Nifty Bank 

Weekly Option Chain (19 July 2018) 

Being last day of contract it is not wise to study this Option Chain. 

Monthly Option Chain

On PE  front 26000 & CE front 27000 with 27500 CE are having some attraction in writer's camp. 

Put Call Ratio Stands at 1.42 for Nifty whereas for Nifty Bank it is 1.01

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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.