Nifty & Nifty Bank View for 12/10/2018

YESTERDAY WE HAD PUBLISHED OUR BLOG WITH CAPTION THAT UPMOVE WAS JUST FOR SINGLE DAY OR BULLS ARE REALLY BACK...!!!

IN CONCLUSION PART WE HAD SHARED OUR VIEW THAT NOW UPSIDE IS LIMITED...!!!

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FURTHER MOVES IN BOTH INDICES ARE AS PER OUR EXPECTATIONS SHARED IN OUR WEEKLY BLOG SPOT. IN CASE IF YOU HAVE MISSED THAT POST WE REQUEST YOU TO CLICK HERE TO READ THAT BLOG POST. 

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WE HAD GIVEN BTST TRADE ON CESC IN WHICH ABOUT 40 POINTS LOSS OR ABOUT 22000/LOT WS BOOKED DUE TO HUGE GAP DOWN. 

BUT AFTER THAT IN BANK NIFTY 24700 CE (BUYING) AND 25000 CE (WRITING) TOTAL ABOUT 150 POINTS PROFIT WAS BOOKED. 

FROM 21/10/2018 WE ARE GOING TO START 2 DIFFERENT WORKSHOPS. 

• TECHNICAL ANALYSIS 

• TECHNICAL ANALYSIS & OPTION TRADING 

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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 225 points Loss at 10234 whereas Nifty Future (October Series) closed at  10252 (Premium of 18 Points) 

Nifty Bank Closed with 538 points Loss at 24784 whereas Bank Nifty Future (October Series) closed at 24827 (Premium of 43 Points) 

Nifty View

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

Resistance zones ~  10270-10295-10325-10350-10380-10415-10460-10500-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750

Support ~ 10225-10180-10110

CONCLUSION

Bulls managed to close above given zone now 10550-10570 zone shall act as strong resistance. (Previous blog comment) 

Close below 10160-10150 may open doors till 9645 with in-between support levels 10065, 9965, 9845 & 9645

Nifty Bank View

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

Resistance Zone ~ 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 ~ 24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

25450-25500 should act as strong resistance zone. (Previous blog view) 

24220-24300  is strong support zone till 19/10/2018 if Bears manages to close below that sub 24000 levels cant be ignored. 

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. (Old comment) 

Mammoth additions can be seen 10500-10400-10300-10200-10100-10000 PE front which can be considered as biased bears. 

Nifty Bank

Weekly Option Chain

OPEN INTEREST Built-up can be seen in next week series. Close above 25000 may lead to more upsiode till 25200-25300 zone. 

Monthly Option Chain

25000 CE OPEN INTEREST regained highest OI tag from 25500 CE but still upside moves above 25000 can't be ruled out. (spot basis) 

Put Call Ratio Stands at 0.90 for Nifty whereas for Nifty Bank it is 0.90

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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.