Nifty & Nifty Bank View for 19/10/2018

MOVES ARE AS PER EXPECTATION SHARED IN OUR LAST WEEKLY AS WELL AS DAILY BLOG...!!!

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Trading Updates 

• Nifty 10700 CE (Positional) 58 to 80 (Profit of 1650/lot) 
• BankNifty 25500 CE (Positional) 233 to 330 (Profit of 3880/lot) 
• Escorts Future (BTST) 639 to 647 (Profit of 8800/lot) 
• Bajaj Finance 2100 PE (Intraday cum BTST) 56 to 71

All these trading views were shared on TELEGRAM BOT

Apart from these trading views 2 other trades were also shared on our 

Twitter Handle 

• Reliance Capital Future 257 to 248
   (Intraday cum Positional) 9 points or 13500/lot 
• Bank Nifty 25600 CE 93 to 60 (Intraday) Loss of 33 points or 1320/lot 

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 131 Points Loss at 10453 whereas Nifty Future (October Series) closed at 10444 (Discount of 9 Points) 

Nifty Bank Closed with 401 points Loss at 25189 whereas Bank Nifty Future (October Series) closed at 25178 (Discount of 11 Points) 

Nifty View

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

Resistance zones ~  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 ~ 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. (shared in last to last blog) 

Going ahead now we fell that 10600-10610 is going to be hurdle in next session. (shared in last blog post) 

Going forward for next session we feel that 10570-10600 shall act as strong resistance for intraday moves. 

Nifty Bank View

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

Resistance Zone ~ 25220-25340-25455-25650-25775-25810-25920-25985-26015-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 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) 

25800-25900 shall act as strong hurdle for remaining sessions of this week.(Old comment) 

25500-25600 shall act as strong resistance zone for next session. 

Option Chain Data

Nifty

OPEN INTEREST changes are happening as per our expectation (shifting from higher strike prices to lower ones) 

Anyway now only 5 sessions are remaining in this series now shifting from 11000 to 10700 must take place on CE front. 

Nifty Bank

Monthly Option Chain

25500 CE shall regained highest  OPEN INTEREST tag in session or 2. 

Put Call Ratio Stands at 0.94 for Nifty whereas for Nifty Bank it is 0.89

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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.