WHATEVER WE HAD EXPECTED IN OUR WEEKLY BLOG POST; BULLS DID THAT IN SINGLE TRADING SESSION...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE
WE HAVE ALREADY SHARED OUR WEEKLY VIEW. TO READ OUR WEEKLY VIEW CLICK HERE
NOT ONLY THAT OUR BTST CALL ON JSWSTEEL GAVE RETURN MORE THAN 27000/LOT...!!!
ANYWAY LETS MOVE AHEAD. WE FEEL GLAD TO ANNOUNCE THAT 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 4 MONTHS INSTEAD OF 7500/-) FOR MORE DETAILS CALL 08866145155 OR DROP EMAIL ON NIFTY50STRIKER@GMAIL.COM
Nifty Spot Closed with 135 points Gains at 11692 whereas Nifty Future (August Series) closed at 11712 (Premium of 24 Points)
Nifty Bank Closed with 430 points Gains at 28264 whereas Bank Nifty Future (August Series) closed at 28279 (Premium of 15 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 ~ 11620-11605-11585-11565-11550-11525-11495-11470-11435-11425-11425-11410-11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785
Conclusion
11600 is without shadow of doubt is strong hurdle for Bulls to clear on closing basis but once cleared that more upside of about 100-125 points will be easy move for Bulls. (Previous blog post for Friday's trading session)
Now for next session we feel Bulls will again strike back to lift Nifty above 11750+
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 11620-11605-11585-11565-11550-11525-11495-11470-11435-11425-11425-11410-11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785
Conclusion
11600 is without shadow of doubt is strong hurdle for Bulls to clear on closing basis but once cleared that more upside of about 100-125 points will be easy move for Bulls. (Previous blog post for Friday's trading session)
Now for next session we feel Bulls will again strike back to lift Nifty above 11750+
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance Zone ~ 28295-28305 (zone)
Support ~ 28375-28320-28265-28210-28175-28130-28060-27970-27940-27890-27845-27825-27790-27720-27680-27640-27600-27470-27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520
Conclusion
We feel that if Bulls managed to give close above 28400 for Nifty Bank then more upside till 28700 on or before expiry can't be ruled out.
Option Chain Data
Nifty
During today's session smart shifting from 11600 to 11700 CE happened. Those who write/sold 11600 CE in last week were forced to adjust their positions today...!!!
Infact we will not be shocked same happens with 11700 CE writers on or before this expiry...!!!
Nifty Bank
Monthly Option Chain
28500 CE is having huge OPEN INTEREST which without shadow of doubt shall act as resistance...!!!Put Call Ratio Stands at 1.79 for Nifty whereas for Nifty Bank it is 1.42
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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.
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