Nifty & Nifty Bank View for 26/07/2018

IN MORNIG WE HAD SHARED OUR VIEW ON ULTRATECH CEMENT COMPANY LIMITED ON OUR TWITTER HANDLE AS WELL AS ON TELEGRAM CHANNEL AND STOCK MOVED AS PER EXPECTATION...!!!

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

• DIVERGENCE ANALYSIS ON SUNDAY AT 1100 HRS. TO REGISTER CLICK HERE. 
• AGGRESSIVE PATTERN (GENERALLY LEAD TO SHORT COVERING OR LONG BUILT-UP) ON SUNDAY AT 1230 HRS. TO REGISTER CLICK HERE.

RECORDINGS OF OLD WEBINARS CAN BE FOUND HERE 

FROM 6th AUGUST 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKDAY BATCH  (7th IN ROW) FOR AVAILING 10% EARLY BIRD DISCOUNT TILL 31/07/2018 AND/OR 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 2 points Loss at 11132 whereas Nifty Future (July Series) closed at 11130 (Discount of 2 Points) 

Nifty Bank Closed with 57 points Gains at 27031 whereas Bank Nifty Future (July Series) closed at 27035 (Premium of 4 Points) 

Nifty View

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

Resistance ~ 11150-11175

Support ~ 11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

As discussed in last post Bulls with some hiccups are moving firmly for our target of 11215 in next 2 sessions max...!!! 

Nifty Bank View

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

Resistance ~ 27045-27145-27230-27335

Support ~ 26970-26900-26805-26765-26695-26650-26615-26520

Conclusion

As expect 27200 is without doubt  acting as strong resistance but that too shall be cleared very soon. (Old comment) 

Now all depends on 27200 levels for Bulls. If that gets cleared in next session then we can expect more upside. 

Option Chain Data

Nifty

As expected in weekly post some shifting is taking place in Option Chain. Looking at present setup relying Option Chain is quite risky. (Repeat comnent) 

Now if we talk about next series then 11000-11500 is range that we can expect. 

Nifty Bank 

Monthly Option Chain

As expected in weekly post some shifting is taking place in Option Chain. 

Put Call Ratio Stands at 1.91 for Nifty whereas for Nifty Bank it is 1.13

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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.