Nifty & Nifty Bank View for 17/08/2018

NIFTY & NIFTY BANK ARE MOVING AS PER OUR EXPECTATIONS IN THIS WEEK...!!!

IN OUR LAST POST WE HAD SAID THAT BOUNCE ON TUESDAY'S SESSION WAS TEMPORARY AND BEARS MAY STRIKE BACK...!!!

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 50 points Loss at 11385 whereas Nifty Future (August Series) closed at 11411 (Premium of 26 Points) 

Nifty Bank Closed with 195 points Loss at 27827 whereas Bank Nifty Future (August Series) closed at 27907 (Premium of 80 Points) 

Nifty View

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

Resistance zones ~ 11410-10425-11435-11470-11495 & 11510-11520 (zone 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

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. (Previous blog post comment)

Next session being last session of week we feel that some range bound moves cannot be ruled out. 

Nifty Bank View

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

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

Support ~ 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. (Previous blog post comment)

27500 shall act as strong support for Nifty Bank in next session. We expect some range bounce moves in 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. (Previous blog post comment) 

Now we feel as last close near to our expected zone some more dip in some range bound moves in expected zone is not ruled out. 

Nifty Bank 

Weekly Option Chain

27500-28000 is expected range as per Changes in OPEN INTEREST in Option Chain but we feel till next weekly expiry we feel some dramatic moves are must. 

Monthly Option Chain

28000 & 29000 CE is having highest OPEN INTEREST on PE front 27000-27500 having good built-up. 

Put Call Ratio Stands at 1.37 for Nifty whereas for Nifty Bank it is 1.28

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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.