Nifty & Nifty Bank View for 02/11/2018

ONCE AGAIN MARKET PARTICIPANTS RESPECTED OUR VIEW FOR NIFTY...!!!

WE HAD EXPECTED THAT NIFTY BULLS MAY TAKE SMALL BREAK WHICH WAS FULLY OBLIGED...!!!  BUT FOR NIFTY BANK DUE TO SOME MAJOR HEAVY WEIGHTS SHARP UP-MOVE AND EXPIRY BULLS MANAGED CLOSE WITH GAINS OF LITTLE ABOVE 0.65%...!!!

NOW IF WE TALK ABOUT OUR WEEKLY BLOG POST THEN YES AFTER YESTERDAY'S SESSION WE FEEL THAT WE MUST REVIEW RANGE FROM 9700-10300 TO 10000-10550 FOR NIFTY WHERE FOR NIFTY BANK WE FEEL THAT AND FOR NIFTY BANK NOW EXPECTED RANGE COULD BE 24500-26100 INSTEAD OF 23700-25400

• TODAY'S TRADE DETAILS (SHARED ON TWITTER HANDLE AS WELL AS TELEGRAM BOT
• Lupin Future 870 to 857 (lot size 700)
• 13 points per lot or 9100/lot (Profit) 
• Infy Future 669 to 668.10 (lot size 1200) 
• 0.90 point per lot or 1080/lot (Profit) 

• Concor Future (BTST) 666 to 658 (lot size 1250) (Taken as BTST but exit as price moves were not as per expectation) 
• 8 points per lot or 10000/lot (Loss) 

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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 6 points Loss at 10380

Nifty Bank Closed with 170 points Gains at 25324

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 ~ 10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

In 1st half Bulls faced problem in given zone but then later on they made remarkable come back but now we feel that Bulls shall take small break tomorrow but in this week Bulls may attempt to lift Nifty Future till 10480-10500 zone(Previous blog post comment) 

For next session we feel that 10440-10450 must as strong resistance for spot Nifty. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

Bulls may target to lift Bank Nifty future above 25500 in this week...!!! (Previous blog post comment)

Somehow we feel that Bulls shall try to lift Nifty Bank till 25500 level tomorrow. 

Option Chain Data

Nifty

OPEN INTEREST  additions can be seen in 10700-10800 CE strikes. This can be considered as probably range built-up for this long series...!!!

Downside strong protection can be seen at 10000 PE due to huge OPEN INTEREST

Nifty Bank


Weekly Option Chain

Huge OPEN INTEREST additions can be seen in from 25200 to 24400 PE where as on CE front additions can be seen from 25500 to 26000 CE. 

Monthly Option Chain

OPEN INTEREST built-up is taking place slowly and gradually 24500 & 25000 PE having good base built-up. (Repeat comment) 

Upside 25500 & 26000 CE also having good attraction. (Repeat comment) 

But surprisingly 26500 PE is having huge OI. (Repeat comment) 

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

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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.