YESTERDAY WHEN BULLS MANAGED TO TAKE LEAD ON CLOSING BASIS WE HAD SAID NOW IT IS TIME FOR BEARS TO BE IN DRIVER'S SEAT AND RESULT IS IN FRONT OF US. IN CASE IF YOU MISSED THAT BLOG POST PLEASE CLICK HERE TO READ.
NIFTY CONCLUSION
NIFTY BANK CONCLUSION
MOVES IN BOTH INDICES TILL DATE 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.
NIFTY CONCLUSION
NIFTY BANK CONCLUSION
OPTION CHAIN CONCLUSION
MOVES IN BOTH INDICES TILL DATE 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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WE ARE GOING TO CONDUCT FREE WEBINAR ON AGGRESSIVE PATTERN ON SATURDAY TO REGISTER CLICK HERE
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Nifty Spot Closed with 100 Points Loss at 10125
Nifty Bank Closed with 247 points Loss at 247
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 10140-10180-10225-10270-10295-10325-10350-10380-10460-10500-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750
Support ~ 10110-10075-10045-10005-9955
CONCLUSION
Bounce till 10180-10200 zone would not make any difference or panic situation in Bear camp. On downside close below 10075-10045 zone shall lead doors open till 9950-9960 zone or even on more downside. (View valid for next 2 sessions)
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10110-10075-10045-10005-9955
CONCLUSION
Bounce till 10180-10200 zone would not make any difference or panic situation in Bear camp. On downside close below 10075-10045 zone shall lead doors open till 9950-9960 zone or even on more downside. (View valid for next 2 sessions)
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
Bounce till 25050-25150 zone will used for more shorts built-up but close above 25200-25220 zone shall lead to more upside till 25400-25500 zone.
On downside 24700-24625 shall act as strong support. Close below this zone shall lead to more downside till 24500 in quick time.
Option Chain Data
Nifty
OPEN INTEREST data is not yet reflecting true picture as built-up yet to take place. So exact inference is bit difficult.
Nifty Bank
Weekly Option Chain
Looking at additions in OPEN INTEREST on strike prices below 25000 gives clear hint of more downside till 24500 levels.
Monthly Option Chain
OPEN INTEREST data is not yet reflecting true picture as built-up yet to take place. So exact inference is bit difficult.
Put Call Ratio Stands at 1.35 for Nifty whereas for Nifty Bank it is 1.52
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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.
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