JUST 1 DAY OF GUEST APPEARANCE AND NOW GAIN BEARS ARE TAKING OVER...!!!
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WE HAD GIVEN STBT TRADE ON CHENNAI PETRO YESTERDAY AND EXIT CALL WAS GIVEN TODAY WITH GAINS OF ABOUT 7 POINTS OR ABOUT 10500/LOT. NOT ONLY THAT WE HAD GIVEN BTST CALL ON RELIANCE 1080 PE THAT TOO GAVE PROFIT OF MORE THAN 10% IN LESS THAN 30 MINS...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY & BANK NIFTY. IN CASE IF YOU HAVE MISSED THAT POST WE REQUEST YOU TO CLICK HERE TO READ THAT BLOG POST.
FROM 21/10/2018 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
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WE HAD GIVEN STBT TRADE ON CHENNAI PETRO YESTERDAY AND EXIT CALL WAS GIVEN TODAY WITH GAINS OF ABOUT 7 POINTS OR ABOUT 10500/LOT. NOT ONLY THAT WE HAD GIVEN BTST CALL ON RELIANCE 1080 PE THAT TOO GAVE PROFIT OF MORE THAN 10% IN LESS THAN 30 MINS...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY & BANK NIFTY. IN CASE IF YOU HAVE MISSED THAT POST WE REQUEST YOU TO CLICK HERE TO READ THAT BLOG POST.
FROM 21/10/2018 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 INTRADAY TRADING ON SATURDAY TO REGISTER CLICK HERE
Nifty Spot Closed with 47 points Loss at 10301 whereas Nifty Future (October Series) closed at 10314 (Premium of 13 Points)
Nifty Bank Closed with 90 points Loss at 24528 whereas Bank Nifty Future (October Series) closed at 24563 (Premium of 35 Points)
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 10325-10350-10380-10415-10460-10500-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750
Support ~ 10295-10270-10225-10180-10110
CONCLUSION
10200 is going to to be strong support for this week but upside road for Bulls would not be that easy. On Daily chart 10450 & 10600 will be strong resistance levels. (Repeat comment)
Now if consider recent swing from 11145 to 10198 then 10420-10440 is very strong hurdle for bulls to clear.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10295-10270-10225-10180-10110
CONCLUSION
10200 is going to to be strong support for this week but upside road for Bulls would not be that easy. On Daily chart 10450 & 10600 will be strong resistance levels. (Repeat comment)
Now if consider recent swing from 11145 to 10198 then 10420-10440 is very strong hurdle for bulls to clear.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance Zone ~ 24680-24810-25065-25150-25220-25340-25455-25650-25455-25340-25220-25150-2577525065-25810-25920-25985-26015-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375
Support ~ 24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980
Conclusion
Still we feel that 24700-24800 shall be strong resistance zone for next session. (Spot basis) (Repeat comment)
Now in next session if Bulls manage to close above 24500 (spot) then more upside till 24700 can be expected on or before weekly expiry else 24300 or lower levels can be seen.
Option Chain Data
Nifty
Mammoth OPEN INTEREST addition can be seen on 10400-10500-10600-10700-10800 CE but we feel this is just for shifting highest OI tag.
Nifty Bank
Weekly Option Chain
OPEN INTEREST Built-up has just taken place but 24000-25000 can be range expectation. (Repeat comment)
Monthly Option Chain
25500 CE OPEN INTEREST lost highest OI tag to 25000 CE now on PE front 24000-24500-25000 PE are in strong fight for highest OI tag. (Repeat comment)
Put Call Ratio Stands at 0.91 for Nifty whereas for Nifty Bank it is 1.05
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