Nifty & Nifty Bank View for 07/08/2018

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Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with 26 points Gains at 11387 whereas Nifty Future (August Series) closed at 11414 (Premium of 27 Points) 

Nifty Bank Closed with 203 points Gains at 27898 whereas Bank Nifty Future (August Series) closed at 27960 (Premium of 62 Points) 

Nifty View

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

Resistance zones ~ 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

On 60 mins chart some divergence is getting formed so some how today's high may act as resistance going forward. (To know more about divergence click here) 

Nifty Bank View

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

Resistance Zone ~ 28100-28200 (zones as per higher time-frame) 

Support ~ 27845-27825-27790-27720-27680-27640-27600-27470-27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520

Conclusion


On 60 mins chart some divergence is getting formed so some how today's high may act as resistance going forward. (To know more about divergence click here) 

Option Chain Data

Nifty

Some good OPEN INTEREST additions can be seen in 11500 & 11600 CE which can be considered as confidence or may be overconfidence in Bulls camp. On PE front 11200, 11300 & 11400 also huge additions can be seen which can be considered as Frustrated Bears or this may preparation of Bear Attack

Nifty Bank 

Weekly Option Chain

Huge OPEN INTEREST liquidation can be seen in  ITM CE where as PE Front huge additions can be seen which can be considered as Bears getting equipped. 

Monthly Option Chain

Highest OPEN INTEREST can be seen at 26500 PE & 28500 CE whic may act as boundary points. (Repeat comment) 

Put Call Ratio Stands at 1.46 for Nifty whereas for Nifty Bank it is 1.19

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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.