Nifty & Nifty Bank View for 14/09/2018

AT LAST SOME BOUNCE FROM LOWER LEVELS IN NIFTY & NIFTY BANK ON ACCOUNT OF NEWS AS WELL AS SOME REVERSAL ON CHARTS...!!!

IN OUR WEEKLY POST WE HAD SAID THAT EXPECTED RANGE FOR NIFTY & NIFTY BANK NIFTY WILL WILL BE 11680-11200 & 27800-26700 RESPECTIVELY WHEREAS RANGE IN FIRST 3 SESSIONS OF THIS WEEK IS 11573-11250 & 27400-26555...!!!

INFACT IN OUR LAST TO LAST BLOG POST ALSO WE HAD SAID THAT WE ARE EXPECTING MORE DOWNSIDE TILL 26670-26700 FOR BANK NIFTY FUTURE. WE ARE SHARING ALL CHARTS BELOW:- 

1st CHART (BANK NIFTY FUTURE) 

2nd CHART (BANK NIFTY FUTURE) 

3rd & FINAL CHART 

LOW OF 26700 WAS MADE IN BANK NIFTY FUTURE IN LAST SESSION...!!!

NOW IF WE TALK ABOUT ONLINE SUPPORT THAT WE PROVIDE TO OUR WORKSHOP PARTICIPANTS THEN BELOW IS LATEST EXAMPLE...!!! 

BEFORE EVEN REVERSAL STARTED IN LAST SESSION AT AROUND 2 PM WE HAD SUGGESTED OUR WORKSHOP PARTICIPANTS THAT DO NOT REMAIN SHORT IN FINANCIALS AND INDICES WELL IN ADVANCE ABOUT 40 MINS...!!!

AFTER THAT NIFTY (CASH) RECOVERED MORE THAN 100 POINTS WHEREAS BULLS MANAGED TO LIFT NIFTY BANK MORE THAN 200 POINTS...!!!

FROM 19th SEPTEMBER 2018 WE ARE GOING TO START SEPTEMBER WEEKDAY TECHNICAL ANALYSIS WORKSHOP (10th BATCH) (TIMINGS SHALL BE WEEKDAY 8 TO 9 PM) (7500/- FOR 4 MONTHS) WE ARE OFFERING 10% DISCOUNT TILL 13/09/2018 AND DISCOUNT UP TO 33% IN CASE OF GROUP DISCOUNT. 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 82 points Gains at 11370 whereas Nifty Future (September Series) closed at 11417 (Premium of 47 Points) 

Nifty Bank Closed with 12 points Gains at 26819 whereas Bank Nifty Future (September Series) closed at 26979 (Premium of 160 Points) 

Nifty View

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

Resistance zones ~  11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

Support ~ 11330-11360-11300-11275-11235-11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785

CONCLUSION

GOING FORWARD WE FEEL THAT MORE PAIN IN BULLS CAMP CANT BE RULED OUT. 11200 WILL BE TARGET FOR BEARS (NOT FOR NEXT SESSION BUT OVER ALL VIEW FOR THIS WEEK) (VIEW SHARED IN EARLIER) 

NOW FOR REMAINING SESSION OF THIS WEEK FEEL BULLS SHALL TRY TO STOP BEARS FOR DAILY CLOSE BELOW 11200...!!! (REPEAT COMMENT) 

NEXT SESSION WE FEEL THAT 11300-11600 WILL BE RANGE 

Nifty Bank View

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

Resistance Zone ~ 26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 26805-26765-26695-26650-26615-26520

Conclusion

26700 WILL BE TARGET FOR BEARS (NOT FOR NEXT SESSION FOR IN THIS SERIES AS WHOLE) ON DAILY CHART AGGRESSIVE BEARISH PATTERN FORMED TODAY. TARGET COMES AROUND 26670-26700 ZONE (BANK NIFTY FUTURE) (VIEW SHARED EARLIER) 

BULLS SHALL TRY TO PROTECT ATLEAST 26500 FOR NEXT SESSION. REMEMBER NEXT SESSION IS WEEKLY EXPIRY SO SOME UNNECESSARY VOLATILITY CANT BE RULED OUT. (OBLIGED FULLY) 

NEXT SESSION WE FEEL THAT 26700-27500 WILL BE RANGE 

Option Chain Data

Nifty

Looking at present OPEN INTEREST it seems that 11400-11800 shall be range for this series. (old view) 

Close below 11400 shall open doors till 11200 in this series. (View shared in previous blog post) 

REQUIRED CHANGES ARE NOT SEEN IN OPTION CHAIN FOR MORE DOWNSIDE 

Nifty Bank 

Weekly Option Chain

OPEN INTEREST suggests range of 27000-28000 (Bulls shall try their level best to protect 27000 on closing basis) (Repeat Comment) (BANK NIFTY FUTURE OBLIGED VIEW TO LARGER EXTENT WITH LEVERAGE OF 50 POINTS) 

27000 CE WRITERS MUST BE FORCED TO ADJUST THEIR POSITIONS IN NEXT SESSION...!!!

Monthly Option Chain

OPEN INTEREST suggests range of 27000-28000 (Range contraction )  (FAILURE OF TEXTBOOK THEORY HIGHEST OI ACT AS SUPPORT OR RESISTANCE) 

Put Call Ratio Stands at 1.03 for Nifty whereas for Nifty Bank it is 0.99

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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.