SOMEHOW AFTER FEW SESSIONS TODAY BEARS TRIED TO IMPRESS RIGHT FROM STARTING...!!!
INFACT SOMEHOW HINT WAS ALREADY GIVEN BY BEARS VIA NIFTY BANK MOVES AS IT WAS NOT MAKING ANY NEW HIGH IN LAST 2 SESSIONS...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE INFACT SOMEHOW HINT WAS ALREADY GIVEN BY BEARS VIA NIFTY BANK MOVES AS IT WAS NOT MAKING ANY NEW HIGH IN LAST 2 SESSIONS...!!!
FROM 6th AUGUST 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS WEEKDAY BATCH (7th IN ROW) WE ARE CHARGING 7500 FOR 4 MONTHS. INCASE OF ANY QUERY PLEASE CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM
Nifty Spot Closed with 10 points Loss at 11346 whereas Nifty Future (August Series) closed at 11374 (Premium of 28 Points)
Nifty Bank Closed with 168 points Loss at 27597 whereas Bank Nifty Future (August Series) closed at 27672 (Premium of 75 Points)
Nifty View
Resistance ~ 11390-11400 & 11510-11520 (zones as per higher time-frames)
Support ~ 11320-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785
Conclusion
Once again technical pattern we can expect 11590-11600 levels for NIFTY FUTURE in next 30 sessions. Entry for this target can be taken till 11200-11180 levels. (Repeat comment)
But now going forward we feel that 11390-11400 must act as strong resistance zone.
Resistance ~ 27600-27640-27680-27720-27790-27825-27845 where on higher timeframe 28100-28200 zone should act as strong resistance zone going forward.
Support ~ 27470-27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520
Conclusion
On very short term basis Bulls must be targeting 27900-27920 (already shared by us on Telegram channel & Twitter handle) (Repeat comment)
But now Bulls lost that opportunity today. Now going forward we feel that zone shall act as resistance. Some how we feel tomorrow we may see weekly expiry (tomorrow 27400 - spot basis)
Option Chain Data
Nifty
Some good OPEN INTEREST built-up can bee seen now at 11400-11500 CE strike prices. On PE front we can see that 11000 PE is having highest OI tag so that may act as support.
Nifty Bank
Weekly Option Chain
Huge OPEN INTEREST built-up can be seen on 27800-27900-28000 CE strike prices. On PE front we can see that 27000 PE is having huge OI.
Highest OPEN INTEREST can be seen at 26500 PE & 28500 CE whic may act as boundary points.
Monthly Option Chain
Put Call Ratio Stands at 1.45 for Nifty whereas for Nifty Bank it is 1.12
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