Nifty & Nifty Bank View for 27/07/2018

IN MORNING WE HAD SHARED BANK OF BARODA CHART ON OUR TWITTER HANDLE AS WELL AS ON TELEGRAM CHANNEL WITH QUESTION ON BREAKOUT.  DURING TRADING HOURS BULLS TOOK CHARGE AND WHAT HAPPENED LATER IS HISTORY...!!! 

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 35 points Gains at 11167 whereas Nifty Future (August Series) closed at 11201 (Premium of 34 Points) 

Nifty Bank Closed with 375 points Gains at 27406 whereas Bank Nifty Future (August Series) closed at 27437 (Premium of 21 Points) 

Nifty View

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

Resistance ~ 11175

Support ~ 11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

As discussed in last post Bulls with some hiccups are moving firmly for our target of 11215 in next 1 session max...!!! (till now from 11081 Bulls managed high of 11180) 

Nifty Bank View

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

Resistance ~ 27470-27600

Support ~ -27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520

Conclusion

As expect 27200 is without doubt  acting as strong resistance but that too shall be cleared very soon. (Old comment) But Bulls managed to clear that today with big bang.  

Now Bulls managed to close at 27406 we feel new lift high is just formality in next week.  

Option Chain Data

Nifty

Highest OPEN INTEREST is at 11000 PE and 11500 CE. So as per textbook theory we can say 11000 and 11500 are boundaries for next series. 

Nifty Bank 

Weekly Option Chain

Highest OPEN INTEREST is at 27000 PE and 27500 CE. So as per textbook theory we can say 27000 and 27500 are boundaries for next series. 

Monthly Option Chain

Highest OPEN INTEREST is at 26000 PE and 27500 CE. So as per textbook theory we can say 26000 and 27500 are boundaries for next series. 

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.