Nifty & Nifty Bank View for 10/08/2018

SLOWLY AND STEADILY BULLS ARE LIFTING INDICES UP UP AND UP AND BEARS ARE JUST SPECTATORS...!!!

POSITIONAL TRADING CALL ON AXIS BANK GAVE PROFIT OF 24000/LOT. TO KNOW TRADING CALL CLICK HERE 

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 20 points Gains at 11470 whereas Nifty Future (August Series) closed at 11486 (Premium of 16 Points) 

Nifty Bank Closed with 258 points Gains at 28320 whereas Bank Nifty Future (August Series) closed at 28352 (Premium of 32 Points) 

Nifty View

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

Resistance zones ~ 11510-11520 (zone as per higher time-frames) 

Support ~ 11435-10425-11410-11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

11510-11520 is strong resistance as per higher time-frame chart. But some how we are expecting range shifting on higher levels/zone (Previous blog post comment) 

View still intact. 

Nifty Bank View

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

Resistance Zone ~ 29380-29400 & 31180-31200 (zones as per monthly time-frame) 

Support ~28295-28250-28190-28110-28065-28000-28020-27970-27940-27890-27845-27825-27790-27720-27680-27640-27600-27470-27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520

Conclusion

Now as weekly expiry is over we feel that 28450-28500 should act as strong resistance zone. (on basis of psychological level) 

Option Chain Data

Nifty

Mammoth OPEN INTEREST additions can be seen in 11300-11400-11500 PE can be seen. ITM CE only liquidation can be seen.  But somehow this changes are inviting shifting of range on higher levels. 

Nifty Bank 

Weekly Option Chain

Huge OPEN INTEREST additions can be seen in  on both side. 

Monthly Option Chain

Shifting can be seen from 26500 PE to 27000 PE. 

Put Call Ratio Stands at 1.61 for Nifty whereas for Nifty Bank it is 1.43

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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.