Nifty & Nifty Bank View for 30/10/2018

WHAT A REMARKABLE ENTRY BY BULLS...!!!

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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 221 Points Gains at 10251

Nifty Bank Closed with 539 points Gains at 24960

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

Somehow we feel that Bulls shall face resistance at 10400-10450 zone in this reversal momentum swing. 

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

Somehow we feel that Bulls shall face resistance at 25300-25400 zone in this reversal momentum swing. 

Option Chain Data

Nifty

OPEN INTEREST built-up is yet to take place for exact inference. 

Nifty Bank


Weekly Option Chain

Looking at liquidation in OPEN INTEREST 24800-25200 CE we feel now upside is limited in this weekly series till 25500. 

Monthly Option Chain

OPEN INTEREST built-up is yet to take place for exact inference. 

But surprisingly 26500 PE is having huge OI. 

Put Call Ratio Stands at 1.41 for Nifty whereas for Nifty Bank it is 1.60 

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