Nifty & Nifty Bank View for 30/08/2018

RANGE BOUND MOVES BUT MOVES ARE LEVEL TO LEVEL...!!!

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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 Loss at 11692 whereas Nifty Future (August Series) closed at 11705 (Premium of 13 Points) 

Nifty Bank Closed with 46 points Loss at 28224 whereas Bank Nifty Future (August Series) closed at 28226 (Premium of 2 Points) 

Nifty View

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

Resistance zones ~  11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

Support ~ 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

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...!!! (Repeat comment from previous post) 

11760-11750 is resistance zone which may prove it worth atleast in 1st half tomorrow. 

Nifty Bank View

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

Resistance Zone ~ 28265-28320-28375-28320-28375

Support ~ 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

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...!!! (Previous blog post view)

Once again 28370-28400 acted as stiff resistance and shall be again hurdle for Bulls in next session. 

Option Chain Data

Nifty

OPEN INTEREST may not give exact idea as we have last session of series. 

Nifty Bank 

Monthly Option Chain

OPEN INTEREST may not give exact idea as we have last session of series. 

Put Call Ratio Stands at 1.77 for Nifty whereas for Nifty Bank it is 1.20

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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.