Nifty & Nifty Bank View for 21/08/2018

NIFTY & NIFTY BANK ARE MOVING AS PER OUR EXPECTATIONS WHICH WE HAD EXPECTED IN OUR WEEKLY POST...!!! 

FROM 9th SEPTEMBER WE ARE GOING TO START WEEKEND ONLINE TECHNICAL ANALYSIS WORKSHOP (9th BATCH) (TIMINGS SHALL BE WEEKEND 8 TO 10 AM) WE ARE OFFERING 10% EARLY BIRD DISCOUNT TILL 31/08/2018 (6750/- FOR  MONTHS INSTEAD OF 7500/-) FOR MORE DETAILS CALL 08866145155 OR DROP EMAIL 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 81 points Gains at 11552 whereas Nifty Future (August Series) closed at 11579 (Premium of 27 Points) 

Nifty Bank Closed with 146 points Gains at 28274 whereas Bank Nifty Future (August Series) closed at 28331 (Premium of 57 Points) 

Nifty View

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

Resistance zones ~  11900-11920 (zone as per higher time-frames) 

Support ~ 11510-11520-11495-11470-11435-11425-11425-11410-11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

Bulls managed Nifty to sustain at higher levels. As Bulls managed to close at highest levels we fee some consolidation can't be ruled out. 

Nifty Bank View

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

Resistance Zone ~ 28295

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

Conclusion

Bulls managed Nifty Bank to sustain at higher levels. As Bulls managed to close at highest levels we fee some consolidation can't be ruled out. 

Option Chain Data

Nifty

Dramatic changes in OPEN INTEREST can be seen in Option chain. We have been telling that we are expecting shift in highest OI from 11000 to 11200 but today that got changed from 11000 to 11400 on PE front now we are expecting shifting on CE front (already from 11500 to 11600 is done) but we are expecting shifting till 11700 or at 11800 by Thursday closing.

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. (Previous blog post comment)

Now we can see that changes already done and expected range is 28000 to 28500

Monthly Option Chain

27500-29000 is range as per OPEN INTEREST data.. 

Put Call Ratio Stands at 1.58 for Nifty whereas for Nifty Bank it is 1.40

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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.