Nifty & Nifty Bank View for 15/11/2018

Moves in Indices are giving more forceful hiatus to Index Traders...!!!

True Range for Nifty Future on Monday was 174.35 on Tuesday it was 172 points and on Wednesday it was 129 but most important aspect of these moves where we closed on opposite direction with respect to previous close on this days...!!!

Monday Nifty Future closed with 119 points loss on Tuesday Bulls managed to lift 112 on closing basis whereas on Wednesday range was 129 points and at closing took place with loss of 23 points...!!! 

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WE HAVE ALREADY SHARED OUR WEEKLY VIEW; INCASE IF YOU HAVE MISSED THAT POST PLEASE CLICK HERE TO READ. 

LAST SESSION TRADE DETAILS SHARED ON TWITTER HANDLE AND/OR AS WELL AS TELEGRAM BOT

• CEATLTD FUTURE 1259 to 1271 (lot size 350) (BTST)
• 12 points per lot or 4200/lot (Profit) 

• SUNPHARMA 530 PE 13 to 19 (lot size 1100) (Intraday)
• 6 points per lot or 6600/lot (Profit) 

Other than this Following Trades were shared with our Trading members. (Close Trades only) 

• ULTRACEMCO FUTURE 3870 TO 3935 Lot size 200) (Intraday) 
• 65 points per lot or 13000/lot (Profit)

• ICICIBANK 370 CE 5.90 to 5.75 (lot size 2750) (BTST) 
• 0.15 point per lot or 412/lot (Loss) 

• ICICIBANK 370 CE 7.40 to 7.40 (lot size 2750) (Intraday) 
• Cost to cost  

WE ARE GOING TO CONDUCT FREE WEBINAR ON BASIC REVERSAL CANDLE SIGNALS ON SATURDAY TO REGISTER CLICK HERE FURTHER IF YOU WANT TO GET COMPLETE LIST OF ALL FREE WEBINARS IN MONTH OF NOVEMBER PLEASE CLICK HERE.

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 10576

Nifty Bank Closed with 161 points Gain at 25930

Nifty View

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

Resistance zones ~  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 ~ 10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

Expectation was gap filling and today gap is almost filled but going forward we feel that 10675-10720 shall act as strong resistance for Nifty Future in next session. (Last blog post conclusion) 

We had expected that 10675-10720 shall act as resistance and today's high is 10680. Still going forward we feel that given zone shall act as resistance. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

Expectation was gap filling and today gap is filled but going forward we feel that 25940-25980 shall act as strong resistance for Bank Nifty Future in next session. (Last blog post conclusion) 

We had expected that 25940-25980 shall act as resistance and today's high is 26080. so If any one if traded on our this view SL would have triggered. Personally neither we nor our trading members traded today in either of Indices. 

Going forward next session being weekly expiry session 26100-26150 shall act as stiff resistance zone for Bank Nifty Future. 

Option Chain Data

Nifty

OPEN INTEREST additions can be seen in 10600-10700-10800-10900-1100 CE strikes. Further good fight between 10600-10700-10800 & 10900 CE for gaining highest OI tag...!!!

Going forward we feel that 10700 CE shall gain highest OI tag in this week. (View Shared in last blog post) (Still having same view) 

Nifty Bank


Weekly Option Chain

OPEN INTEREST liquidation can be seen from 25000 to 26000 CE  shows exit by trapped retail buyers...!!!

It makes no sense to analyse this option chain data now being next session will be expiry session for this option chain. 

Monthly Option Chain

25000 PE (OTM) with  25500 (ITM) & 26000 (OTM) CE also having good attraction. 

26000 CE is having highest OI tag which is indirectly act as resistance and trouble for Bulls...!!!

Put Call Ratio Stands at 1.44 for Nifty whereas for Nifty Bank it is 1.49

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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.