Nifty & Nifty Bank View for 03/10/2018

AT-LAST SOME BOUNCE FROM LOWER LEVELS IN NIFTY AND SOME HOW RISING TREND-LINE FOR NIFTY FUTURE GOT RESPECTED BUT STILL TO COUNT BEARS OUT FROM SYSTEM WOULD BE AGAIN BIG MISTAKE AS WE FEEL THAT ONE FALL TILL 10550-10600 IS DUE AS PER INDICATOR ADJUSTMENT THEORY. TO KNOW MORE ABOUT THAT CLICK HERE. 

LETS CHECK NIFTY FUTURE CHART ON WEEKLY TIME-FRAME TO UNDER WHOLE STRUCTURE ONCE AGAIN. 

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

Nifty Spot Closed with 78 points Gains at 11008 whereas Nifty Future (October Series) closed at 11062 (Premium of 54 Points) 

Nifty Bank Closed with 247 points  Gains at 25367 whereas Bank Nifty Future (October Series) closed at 25509 (Premium of 142 Points) 

Nifty View

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

Resistance zones ~  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 ~ 10980-10940-10895-10870-10840-10815-10785-10740-10715-10690-10650-10615-10585-10555-10525-10500-10460

CONCLUSION

11100 shall act as strong resistance for Nifty Future in next session. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 25340-25220-25150-25065-24810-24680-24515-24380-24250-24150-24085-24010-23930-23810-23740

Conclusion

Somehow Bulls managed to give close above 25500 (Bank Nifty Future) but we feel that Bears shall be targeting sub 25000 levels in this week

Option Chain Data

Nifty

Some OPEN INTEREST can be seen at 11200 CE which may act as resistance going forward whereas on downside 11000 PE is having good attraction on buyer as well as writer front. 

Nifty Bank

Weekly Option Chain

Clear frustration can be seen by OPEN INTEREST additions on PE front from 24500 to 25500 data. 25500 CE may act as resistance in next session. (Considering spot levels) 

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

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