Nifty & Nifty Bank View for 05/09/2018

ONCE AGAIN BEARS TASTED BLOOD OF BULLS...!!!

TODAY WE HAD GIVEN STBT CALL ON IRB INFRA BUT IN LESS THAN 15 MINS STOCK SLIPPED MORE THAN 8/-...!!! THUS PROFIT OF 20000/LOT WAS EASILY BOOKED IN NO TIME...!!! THIS CALL/VIEW CAN BE TRACKED/CHECK ON OUR TELEGRAM CHANNEL  AS WELL AS TELEGRAM CHANNEL BOT 

TODAY IS LAST DAY TO AVAIL 500 DISCOUNT ON OUR SEPTEMBER WEEKEND TECHNICAL ANALYSIS WORKSHOP (9th BATCH) (TIMINGS SHALL BE WEEKEND 8 TO 10 AM) (7000/- FOR 4 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 THAT BLOG POST CLICK HERE 

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

Nifty Spot Closed with 62 points Loss at 11520 whereas Nifty Future (September Series) closed at 11573 (Premium of 53 Points) 

Nifty Bank Closed with 389 points Loss at 27431 whereas Bank Nifty Future (September Series) closed at 28615 (Premium of  184 Points) 

Nifty View

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

Resistance zones ~  11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

Support ~ 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

Still we feel that 11520-11500 shall be strong SUPPORT ZONE for next session. (Previous Blog Post comment) 

For next session 11500-11510 shall act as strong support if closed below this zone then it will open doors for downside till 11400-11410

Nifty Bank View

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

Resistance Zone ~ 27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520

Conclusion

Somehow we feel 27000-27100 shall act as reversal zone for this downside move

Option Chain Data

Nifty

Looking at present OPEN INTEREST it seems that 11500-11800 shall be range for this series. 

Nifty Bank 

Weekly Option Chain

OPEN INTEREST suggests range of 27000-28000 (Bulls shall try their level best to protect 27000 on closing basis) 

Monthly Option Chain

OPEN INTEREST suggests range of 27000-29000

Put Call Ratio Stands at 1.16 for Nifty whereas for Nifty Bank it is 1.15

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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.