Nifty & Nifty Bank View for 23/10/2018

MORE OR LESS MOVES ARE IN LINE WITH OUR WEEKLY BLOG POST RANGE AND EXPECTATIONS  SHARED...!!! INCASE IF YOU MISSED TO READ THAT BLOG POST PLEASE CLICK HERE TO READ THAT POST.

INCASE IF YOU ARE AGGRESSIVE TRADER YOU CAN SUBSCRIBE OUR TELEGRAM BOT TO GET OUR FREE TRADING VIEWS...!!

FROM 22/10/2018 WE ARE GOING TO START 2 DIFFERENT WORKSHOPS

• TECHNICAL ANALYSIS 

• TECHNICAL ANALYSIS & OPTION TRADING 

INCASE IF YOU HAVE 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 AGGRESSIVE PATTERN 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 58 Points Loss at 10245 whereas Nifty Future (October Series) closed at 10232 (Discount of 13 Points) 

Nifty Bank Closed with 7 points Loss at 25079 whereas Bank Nifty Future (October Series) closed at 25031 (Discount of 48 Points) 

Nifty View

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

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

Support ~ 10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

Going forward for rest of session of this series (and not week) we feel that 10420-10450 shall act as strong resistance. On downside moves till 9960-9950 are open in this series. 

Nifty Bank View

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

Resistance Zone ~ 25150-25220-25340-25455-25650-25775-25810-25920-25985-26015-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

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

Conclusion

25500-25600 shall act as strong resistance zone for next session (Repeat comment and still valid) 

Close below 25000 (spot basis) shall lead to more pain. 

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. (Previous daily blog post view) 

But now shifting is almost done from 11000 to 10500 on CE front...!!!

Nifty Bank

Monthly Option Chain

25500 CE shall regained highest  OPEN INTEREST tag in session or 2. (Previous daily blog post view)

Now with 25500 CE regained highest OI tag we feel that more downside till 24500 can't be ruled out in this series. 

Put Call Ratio Stands at 0.82 for Nifty whereas for Nifty Bank it is 0.72

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

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.