Nifty & Nifty Bank View for 29/08/2018

BULLS & BEARS ONCE AGAIN THANK YOU VERY MUCH...!!!

EXPECTATION WAS 11750+ FOR NIFTY & SUB 28400 FOR NIFTY BANK AND BOTH GOT OBLIGED FULLY...!!!

NOT ONLY THAT NICE BOUNCE SEEN FROM LOWER LEVELS OF THE DAY...!!!

FREE OPTION TRADING CALL ON BANK NIFTY GAVE RETURNS OVER 50%...!!! APART FROM IF ANY ONE TRADED IN OUR BOTH BTST CALLS (GIVEN YESTERDAY) WOULD HAVE GAINED 10200/PAIR EASILY...!!! TO GET LIVE MARKET TRADING CALLS CLICK ON YOUR TELEGRAM BOT CLICK HERE 

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

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

Nifty Spot Closed with 46 points Gains at 11739 whereas Nifty Future (August Series) closed at 11752 (Premium of 13 Points) 

Nifty Bank Closed with 5 points Gains at 28670 whereas Bank Nifty Future (August Series) closed at 28312 (Premium of 42 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 ~ 11750-11735-11725-11710-11690-11655-11620-11605-11585-11565-11550-11525-11495-11470-11435-11425-11425-11410-11385-11360-11330-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

Conclusion

Now for next session we feel Bulls will again strike back to lift Nifty above 11750+  (Previous blog post view)

As expected Bulls managed to strike above 11750+ but unfortunately failed to close above that level.  Now for this series 11600 shall act as strong support but on upside we feel that still some more upside is left till 11780-11820 zone...!!!

Nifty Bank View

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

Resistance Zone ~ 28320-28375

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. (Previous blog post view)

As expected Bulls failed to manage close above 28400...!!! Now for next session we feel that 28400-28500 will be do or die zone for Bulls...!!!

Option Chain Data

Nifty

Once again smart shifting has taken place in OPEN INTEREST on CE front and Novice traders who write options with highest OPEN INTEREST experience pain...!!! 11800 CE may act as hurdle in this expiry..!!! 

Nifty Bank 

Monthly Option Chain

28500 CE is having huge OPEN INTEREST which without shadow of doubt shall act as resistance...!!! (Repeat comment) 

Put Call Ratio Stands at 1.98 for Nifty whereas for Nifty Bank it is 1.38

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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.