Nifty & Nifty Bank View for 16/08/2018

BOUNCE AFTER ONE BIG FALL IS NOT EXPECTED BY EVERY ONE BUT SOME HOW BULLS MANAGED TO CLOSE NIFTY & NIFTY BANK AT WITH GOOD GAINS...!!!

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) (8th Batch) WE ARE CHARGING 7500 FOR 4 MONTHS. INCASE OF ANY QUERY FEEL FREE TO CALL 08866145155 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

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 

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

Nifty Spot Closed with 79 points Gains at 11435 whereas Nifty Future (August Series) closed at 11463 (Premium of 28 Points) 

Nifty Bank Closed with 227 points Loss at 28022 whereas Bank Nifty Future (August Series) closed at 28078 (Premium of 56 Points) 

Nifty View

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

Resistance zones ~ 11470-11495 & 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) 

Somehow we feel that bounce in last session was just bounce from lower levels and going ahead we may see some fall again in next session. 

Nifty Bank View

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

Resistance Zone ~ 28065-28110-28190-28250-28295

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

Conclusion

28100-28000 for Nifty Bank must act as strong resistance for next session. 

Option Chain Data

Nifty

One more fall till 11300-11350 zone is required as per present structure in OPEN INTEREST in Option chain. 

Nifty Bank 

Weekly Option Chain

Changes in OPEN INTEREST in Option Chain are bit unusual which is due to holiday before expiry. 

Monthly Option Chain

Changes are not much conclusive. 

Put Call Ratio Stands at 1.48 for Nifty whereas for Nifty Bank it is 1.34

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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.