Nifty & Nifty Bank View for 08/08/2018

IN OUR LAST BLOG POST WE HAD SAID THAT SOME DIVERGENCE ON 60 MINS TIME-FRAME IS FORMED SO AT HIGHER LEVELS BULLS MAY FACE RESISTANCE FOR NIFTY & NIFTY BANK; TODAY WE HAD WITNESSED SAME.

POSITIONAL TRADING CALL ON ACC GAVE RETURN OF MORE THAN 12000/LOT TO KNOW TRADING CALL CLICK HERE FURTHER IN BTST CALL ON JUBLFOOD GAVE 7500/LOT TO KNOW THAT TRADING CALL CLICK HERE BUT IN RISKY OPTION TRADING CALL LOSS OF 2080/LOT TO KNOW THAT TRADING CALL CLICK HERE

WE HAVE STARTED GIVING FREE CALLS ON OUR TELEGRAM CHANNEL AND DAILY CHART UPDATES ON DIFFERENT STOCKS ON OUR TWITTER HANDLE TOO...!!

FROM 19th AUGUST 2018 WE ARE GOING TO START ONLINE TECHNICAL ANALYSIS SUNDAY ONLY BATCH (TIMINGS SHALL BE 11 AM TO 1 PM FOR ABOUT 20 SUNDAYS)  WE ARE CHARGING 7500 FOR 4 MONTHS. 10% EARLY DISCOUNT OFFER WE ARE OFFERING TILL 12/08/2018. INCASE OF ANY QUERY FEEL FREE TO 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 Gains at 11389 whereas Nifty Future (August Series) closed at 11418 (Premium of 29 Points) 

Nifty Bank Closed with 23 points Loss at 27876 whereas Bank Nifty Future (August Series) closed at 27948 (Premium of 72 Points) 

Nifty View

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

Resistance zones ~ 11410, 10425-10430 & 11510-11520 (zones as per higher time-frames) 

Support ~ 11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

Divergence formed in previous session help Bears to slow Bullish momentum but Bears failed to en-cash opportunity. Going forward 11425-11430 shall act as strong resistance. On downside 11360 shall act as strong support

Nifty Bank View

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

Resistance Zone ~ 27890-27940-27970 & 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

27970-28000 (spot/cash basis) is strong resistance zone. On downside we feel that 27800 shall act as strong support.

Option Chain Data

Nifty

Some good OPEN INTEREST additions can be seen in 11200 PE which get highest OI tag by end of this week. On CE front shifting may take place from 11500 to 11600/11700 strike price. 

Nifty Bank 

Weekly Option Chain

Huge OPEN INTEREST additions can be seen in  OTM PE at 27600-27700-27800 strikes, whereas on  CE front 28100-28200 CE is having good attraction. 

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 1.44 for Nifty whereas for Nifty Bank it is 1.23

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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.