Nifty & Nifty Bank View for 19/09/2018

IN OUR LAST BLOG POST WE HAS SHARED OUR VIEW THAT WE ARE EXPECTING NIFTY BANK TO TOUCH 26500 IN WEEKLY EXPIRY...!!!

INCASE IF YOU MISSED OUR LAST BLOG POST CLICK HERE TO READ THAT. 

WE HAVE ALREADY OUR WEEKLY VIEW INCASE IF YOU MISSED TO READ THAT CLICK HERE TO READ. 

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 DISCOUNT UP TO 33% IN CASE OF GROUP DISCOUNT. FOR MORE DETAILS CALL 08866145155 OR DROP EMAIL ON NIFTY50STRIKER@GMAIL.COM 

FROM NEXT BATCH WE ARE GOING TO REVISE OUR FEE STRUCTURE. IT WILL BE 10000/- FOR 4 MONTHS INSTEAD OF 7500/- AT PRESENT

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

Nifty Spot Closed with 98 points Loss at 11279 whereas Nifty Future (September Series) closed at 11310 (Premium of 31 Points) 

Nifty Bank Closed with 379 points Loss at 26441 whereas Bank Nifty Future (September Series) closed at 26553 (Premium of 112 Points) 

Nifty View

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

Resistance zones ~  11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

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

CONCLUSION

Somehow we feel that 11200 shall be next target in Bears mind in this series.  (REPEAT COMMENT) 

WE SHALL REVIEW WEEKLY RANGE AFTER NEXT SESSION. (NO NEED TO REVIEW AS WE FEEL 11200 IS NEXT TARGET FOR BEARS) 

Nifty Bank View

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

Resistance Zone ~ 26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 26450-26410-26325-26285-26255-26170-26070-26015

Conclusion

We wont be surprise if Bears managed to show 26500 levels in this weekly expiry (spot basis) (REPEAT COMMENT FROM PREVIOUS BLOG POST) 

WE SHALL REVIEW WEEKLY RANGE AFTER NEXT SESSION. (NO NEED TO REVIEW AT PRESENT AS WE FEEL THAT 26200 WILL BE IMMEDIATE NEXT TARGET FOR BEARS) 

Option Chain Data

Nifty

Looking at present OPEN INTEREST it seems that 11000 PE shall gain highest OI in next session which may result into more downside. BUT BEFORE THAT WE FEEL THAT 11200 WILL BE NEXT TARGET FOR BULLS IN NEXT SESSION. 

Nifty Bank 

Weekly Option Chain

OPEN INTEREST is not suggesting any clear view as next session is weekly expiry...!!!!

Monthly Option Chain

Looking OPEN INTEREST data it seems that 27000 PE writers shall be forced to adjust their positions in next session. (REPEAT COMMENT) 

WE FEEL MANY RETAIL TRADERS WOULD HAVE BEEN TRAPPED LOOKING AT HIGHEST AT OPEN INTEREST 27000 PE (MONTHLY) & 26500 PE (WEEKLY) BUT WE HAVE BEEN TELLING NOT TO TRUST OPEN INTEREST DATA BLINDLY ESPECIALLY IN OPTION CHAIN. 

Put Call Ratio Stands at 1.05 for Nifty whereas for Nifty Bank it is 0.90

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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.