Nifty & Nifty Bank View for 14/08/2018

NIFTY & NIFTY BANK ARE MOVING AS PER OUR EXPECTATION THAT WE HAD SHARED IN OUR WEEKLY POST. WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW 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

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

Nifty Spot Closed with 74 points Loss at 11356 whereas Nifty Future (August Series) closed at 11381 (Premium of 25 Points) 

Nifty Bank Closed with 330 points Loss at 27794  whereas Bank Nifty Future (August Series) closed at 27871 (Premium of 77 Points) 

Nifty View

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

Resistance zones ~ 11360-11385-11410-10425-11435-11470-11495 & 11510-11520 (zone as per higher time-frames) 

Support ~ 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) 

GOING FORWARD WE FEEL THAT 11250-11270 FOR NIFTY FUTURE MUST ACT AS STRONG SUPPORT ON CLOSING BASIS. 

Nifty Bank View

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

Resistance Zone ~ 27825-27845-27890-27940-27970-28000-28020-28065-28110-28190-28250-28295

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

Conclusion

Somehow we feel that 28000 must act as strong resistance and 27500 shall act as support. 

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. But on PE front some liquidations can be seen in ITM PE. 

Monthly Option Chain

As expected in previous posts some how these moves are inviting range shifting this can be seen with change in highest OI on PE front from 27000 to 27500 PE. 

Put Call Ratio Stands at 1.43 for Nifty whereas for Nifty Bank it is 1.41

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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.