Nifty & Nifty Bank View for 04/10/2018

AS EXPECTED IN OUR LAST BLOG POST ROAD AHEAD FOR BULLS WOULD NOT BE EASY AND RESULT IS IN FRONT OF US. 

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

NEAR TO START OF 3rd WEEK OF OCTOBER WE ARE GOING TO START COMBO WORKSHOP ON TECHNICAL ANALYSIS AS WELL AS OPTION TRADING. INCASE IF YOU HAVE ANY QUERY PLEASE CLICK HERE TO JOIN OUR WHATSAPP GROUP OR INCASE IF YOU WANT TO CONTACT US DIRECTLY CALL 08866145155/09067750730 OR DROP MAIL ON NIFTY50STRIKER@GMAIL.COM

WE ARE GOING TO CONDUCT FREE WEBINAR ON DEMAND & SUPPLY ZONE  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 150 points Loss at 10858 whereas Nifty Future (October Series) closed at 10894 (Premium of 36 Points) 

Nifty Bank Closed with 297 points Loss at 25070 whereas Bank Nifty Future (October Series) closed at 25164 (Premium of 94 Points) 

Nifty View

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

Resistance zones ~  10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750-11900-11920 (zone as per higher time-frames) 

Support ~ 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. (PREVIOUS BLOG POST CONCLUSION) 

10850-10870 IF PROTECTED BY BULLS WE CAN SE SOME BOUNCE ELSE SUB 10800 LEVELS CANNOT BE RULED OUT 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 ~ 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 25500 (Bank Nifty Future) but we feel that Bears shall be targeting sub 25000 levels in this week (VIEW SHARED IN LAST BLOG POST) 

25100-25050 SHOULD ACT AS STRONG SUPPORT FOR BANK NIFTY FUTURE IN NEXT SESSION. BELOW THAT BEARS SHALL DRAG IT BELOW 25000 AND WE MAY SEE CLOSE BELOW THAT ALSO. 

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. (Previous blog post conclusion) 

HUGE ADDITIONS CAN BE SEEN AT 10500-10700 PE & 11000-11100-11200-11300 CE. THIS CAN BE CONSIDERED GOOD FIGHT BETWEEN BULLS AND BEARS BUT OVERALL DATA STRUCTURE IS NEGATIVE. 

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) (Previous blog post view) 

Clear writing can be see in sub 25k strike prices on PE front. But some panic below 25000 cant be ruled out. (spot basis) 

Monthly Option Chain

25500 CE OPEN INTEREST resistance going forward. Good attraction can be seen in 24500 PE strike as well. 

Put Call Ratio Stands at 1.15 for Nifty whereas for Nifty Bank it is 1.10

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

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.