Nifty & Nifty Bank View for 28/09/2018

EVEN ON LAST OF SERIES BEARS WERE NOT IN MOOD TO LEAVE BULLS...!!!

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

FROM 29th SEPTEMBER 2018 WE ARE GOING TO START ONLINE OPTION TRADING WORKSHOP (1st BATCH) FOR MORE DETAILS CALL 08866145155 OR DROP EMAIL ON NIFTY50STRIKER@GMAIL.COM 

JUST TO MAKE REALIZE HOW DIFFICULT IT IS TO ADJUST POSITIONS WITHOUT CHART STUDY WE HAD GIVEN A LEARNING CALL ON OUR TWITTER HANDLE AND TELEGRAM CHANNEL ON DLF FOR OPTION TRADING. 

LEARNING TRADE BUY #DLF OCTOBER 180 CE & PE AT 12 & 10 RESPECTIVELY IN ADDITION TO THAT WRITE 180 PE SEPTEMBER SERIES AT 4 (LOT SIZE 2500)

AFTER THAT POSITION AS PER YESTERDAY EOD WAS AS UNDER:- 



AFTER THAT POSITION AT CLOSE TODAY IS AS UNDER AS UNDER:- 



COMBINE VALUE AT ENTRY WAS 22 AND AT END TODAY IT IS 21 BUT 4 POINTS LOSS ON 180 PE WRITING THOUGH CALENDAR SPREAD STRATEGY WAS FOLLOWED. BUT WITHOUT FOLLOWING CHARTS IT AGAIN ENDED UP WITH LOSS MAKING TRADE. 

BLINDLY ENTERING INTO CALENDAR SPREAD OR STRADDLE IT IS NOT OVER. ONCE MUST STUDY CHARTS ALSO. IT WAS INVERTED FLAG AND POLE FORMATION ON 15 MINS CART WITH OTHER PATTERNS ON DAILY CHART. THIS POSITION COULD HAVE BEEN EASILY ADJUSTED WITH WRITING 180 CE AND COUPLE OF OTHER WAYS. BELOW IS 15 MINS & DAILY CHART FOR DLF 

WE CAN SEE THAT ON DAILY CHART DIFFERENT WEDGE/TRIANGLE AS WELL AS CHANEL PATTERN FORMATIONS WERE SO BLINDLY TRADING INTO OPTION WITHOUT CHARTS IS AGAIN SUICIDE ATTEMPT IN TRADING...!!!

WE ARE GOING TO CONDUCT FREE WEBINAR ON BOLLINGER BAND ON SATURDAY TO REGISTER CLICK HERE

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

Nifty Spot Closed with 76 points Loss at 10977 whereas Nifty Future (October Series) closed at 11085 (Premium of 107 Points) 

Nifty Bank Closed with 334 points Loss at 25042 whereas Bank Nifty Future (October Series) closed at 25199 (Premium of 157 Points) 

Nifty View

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

Resistance zones ~  10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

Support ~ 10940-10895-10870-10840-10815-10785-10740-10715-10690-10650-10615-10585-10555-10525-10500-10460

CONCLUSION

Bears managed to give close below 11000 which is again painful for Bulls. Some how we feel that immediate low of 10866 shall act as strong support for next session. 

Nifty Bank View

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

Resistance Zone ~ 25065-25150-25220-25340-25455-25650-25455-25340-25220-25150-2577525065-25810-25920-25985-26015-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 24810-24680-24515-24380-24250-24150-24085-24010-23930-23810-23740

Conclusion

Somehow Bulls managed to give close above 25000 but we feel that Bears shall be targeting 24600-24700 zone in weekly series. 

Option Chain Data

Nifty

Premature to say anything as per OPEN INTEREST  built-up is in place. 

Nifty Bank

Weekly Option Chain

Looking OPEN INTEREST data it seems that 25500 PE may not be strong support in next weekly series. 

Monthly Option Chain

Premature to say anything as per OPEN INTEREST  built-up is in place. 

Put Call Ratio Stands at 1.05 for Nifty whereas for Nifty Bank it is 1.06

--------------------------------------------------------------------------------------------------------------------------

YOUTUBE CHANNEL 

--------------------------------------------------------------------------------------------------------------------------

FOR LIVE MARKET UPDATE & FREE OPTION CALLS JOIN:- 

T.ME/NIFTY50STRIKER

--------------------------------------------------------------------------------------------------------------------------

SOCIAL MEDIA TOUCH POINTS:-

T.ME/NIFTY50STRIKER

FACEBOOK.COM/NIFTY50STRIKER

TWITTER.COM/NIFTY50STRIKER

--------------------------------------------------------------------------------------------------------------------------

IN CASE OF ANY QUERY/SUGGESTIONS READERS ARE REQUESTED TO CONTACT US NIFTY50STRIKER@GMAIL.COM OR 08866145155

--------------------------------------------------------------------------------------------------------------------------

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.