Nifty & Nifty Bank View for 16/10/2018

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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 40 Points Gain at 10513 whereas Nifty Future (October Series) closed at 10517 (Premium of 4 Points) 

Nifty Bank Closed with 8 points Loss at 25388 whereas Bank Nifty Future (October Series) closed at 25366 (Premium of 43 Points) 

Nifty View

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

Resistance zones ~  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 ~ 10500-10460-10415-10380-10350-10325-10295-10270-10225-10180-10110

CONCLUSION

Now for rest of session of this series 10330-10350 shall act as strong support zone. But on upside gap between 10754.70-10843.75 shall be strong hurdle. 

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 ~ 25340-25220-25150-25065-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

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

Option Chain Data

Nifty

OPEN INTEREST additions can be seen on 10700-10800 CE which indicates some more upside in session or 2. 

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. (Old comment which is already respected) 

Going forward close above 25500 (spot basis) shall lead to more quick fast moves till 25800

Monthly Option Chain

26500 CE OPEN INTEREST regained highest OI tag. This can be 

Put Call Ratio Stands at 0.98 for Nifty whereas for Nifty Bank it is 1.16

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