ONCE AGAIN BEARS MANAGED TO PROVE THEIR SUPREMACY...!!!
SOME HOW WE FEEL THAT BEARS MAY TAKE BREAK FOR DAY OR 2 BUT TO CONSIDER BEARS OUT OF MARKET WOULD BE MISTAKE...!!!
WE STILL FEEL THAT MOVES IN BOTH INDICES ARE INLINE WITH OUR EXPECTATION SHARED IN WEEKLY BLOG. INCASE IF YOU MISSED TO READ THAT BLOG POST PLEASE CLICK HERE TO READ THAT POST.
SOME HOW WE FEEL THAT BEARS MAY TAKE BREAK FOR DAY OR 2 BUT TO CONSIDER BEARS OUT OF MARKET WOULD BE MISTAKE...!!!
WE STILL FEEL THAT MOVES IN BOTH INDICES ARE INLINE WITH OUR EXPECTATION SHARED IN WEEKLY BLOG. INCASE IF YOU MISSED TO READ THAT BLOG POST PLEASE CLICK HERE TO READ THAT POST.
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Nifty Spot Closed with 98 Points Loss at 10147 whereas Nifty Future (October Series) closed at 10148 (Premium of 1 point)
Nifty Bank Closed with 106 points Loss at 24972 whereas Bank Nifty Future (October Series) closed at 24978 (Premium of 6 Points)
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 10180-10225-10270-10295-10325-10350-10380-10460-10500-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750
Support ~ 10140-10110-10075-10045-10005-9955
CONCLUSION
Though Bulls managed to give bounce from Demand zone but looking at chart structure we feel that in next 3 session Nifty Future may enter in 10000-9960 zone.
For next sessions we feel that Probably range would be 10300-10100 and either side close would give 100 points move easily. (Spot basis)
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10140-10110-10075-10045-10005-9955
BEFORE WE REACH TO CONCLUSION PART LETS TRY TO STUDY NIFTY FUTURE CHART ONCE
CONCLUSION
Though Bulls managed to give bounce from Demand zone but looking at chart structure we feel that in next 3 session Nifty Future may enter in 10000-9960 zone.
For next sessions we feel that Probably range would be 10300-10100 and either side close would give 100 points move easily. (Spot basis)
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance Zone ~ 25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26015-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375
Support ~ 24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980
Conclusion
25200 shall act as strong resistance level for next session. Close above that shall lead to more 200 points move in quick time. 24800 is going to be strong support; any close below that shall make bears more powerful and levels till 24500 can be seen in quick time.
Option Chain Data
Nifty
OPEN INTEREST are bit confusing but that is due to near by expiry. Further if we 10400-10500 CE are in strong fight to gain highest OI from 11000 CE.
Nifty Bank
Monthly Option Chain
Looking at additions in OPEN INTEREST 25000-25200 CE we feel by end of next session either of these may gain highest OI.
PE front 24500 is having good OI.
Put Call Ratio Stands at 0.74 for Nifty whereas for Nifty Bank it is 0.73
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