ONCE AGAIN BEARS OBLIGED OUR VIEW...!!!
IN OUR LAST BLOG POST WE HAD SAID THAT 11200 & 26200 SHALL BE NEXT TARGET IN BEAR CAMP AND RESULT IS IN FRONT OF US...!!!
NIFTY & NIFTY BANK MADE LOW OF 11210 & 26235 RESPECTIVELY...!!!
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.
IN OUR LAST BLOG POST WE HAD SAID THAT 11200 & 26200 SHALL BE NEXT TARGET IN BEAR CAMP AND RESULT IS IN FRONT OF US...!!!
NIFTY & NIFTY BANK MADE LOW OF 11210 & 26235 RESPECTIVELY...!!!
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.
Nifty Spot Closed with 45 points Loss at 11234 whereas Nifty Future (September Series) closed at 11272 (Premium of 38 Points)
Nifty Bank Closed with 164 points Loss at 26277 whereas Bank Nifty Future (September Series) closed at 26380 (Premium of 103 Points)
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames)
Support ~ 11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785
CONCLUSION
Now final hope for Bulls shall remain alive till the time Nifty closes above 11200 (spot daily basis)
Close below 11200 shall open doors for 11000-11050 zone.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 11210-11185-11170-11150-11125-11100-11070-11045-11020-10980-10940-10895-10870-10840-10815-10785
CONCLUSION
Now final hope for Bulls shall remain alive till the time Nifty closes above 11200 (spot daily basis)
Close below 11200 shall open doors for 11000-11050 zone.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance Zone ~ 26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375
Support ~ 26255-26170-26070-26015
Conclusion
Now final hope for Bulls shall remain alive till the time Nifty Bank closes above 26200 (spot daily basis)
Close below 26200 shall open doors for 26000-26030 zone.
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. (View shared in last blog post)
Now as expected 11000 PE has gained highest OI tag which shall boost to CE writers.
Nifty Bank
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)
Still mammoth OI at 27000 PE leads to some doubt over more downside as expected adjustment on PE front is not yet seen. Infact in next month weekly as well as monthly required adjustments are not seen.
SOMEHOW WE FEEL THAT BOTTOM SHALL BE MADE IN SESSION OR TWO (VIEW SHARED BASIS OF CHART AND NOT OPTION CHAIN AS OPTION CHAIN LEADS TO WRONG INTERPRETATION ON ACCOUNT OF HIGHEST OI TAG ON PE FRONT...!!!
Put Call Ratio Stands at 0.88 for Nifty whereas for Nifty Bank it is 0.73
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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.
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