Nifty & Nifty Bank View for 16/11/2018

Range-bound moves in Nifty not exactly inline with Global market and confused traders...!!!

Some how indicators are also not giving clear trending view for positional trade...!!!

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

• BankNifty 26000 CE 60 to 40 (lot size 20) (Intraday) (Writing Trade) 
• 20 points per lot or 400/lot (Profit) 

• SUNPHARMA 520 PE 13.90 to 18.50 (lot size 1100) (Intraday)
• 4.60 points per lot or 5060/lot (Profit) 

• Maruti Straddle Trade 
• 7500 CE + PE Buy 
• CE Exited with loss of 20 points. (160 to 140) 20 points loss or 1500 /lot 
• PE is still hold

• DrReddy 2400 PE 84 to 38 (lot size 250) (Positional)
• 46 points per lot or 11500/lot (Loss) 

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

• BANKINDIA 80 PE 2.60 to 1.90 (lot size 6000) (INTRADAY) 

• 0.70 point per lot or 4200/lot (Loss) 

• MARUTI 7400 PE 137.50 TO 122.90 to (lot size 75) (INTRADAY) 

• 14.60 points per lot or 1095/lot (Loss) 

• ICICIBANK 370 CE FROM 8.50 TO 11 (lot size 2750) (INTRADAY) 

• 2.50 points per lot or 6875/lot (PROFIT) 

• PAGEIND FUTURE 25850 TO 25500 (lot size 25) (INTRADAY) 

• 350 points per lot or 8750/lot (PROFIT) 

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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 40 points Gain at 10617

Nifty Bank Closed with 225 points Gain at 26155

Nifty View

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

Resistance zones ~  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 ~ 10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

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. (Last blog post conclusion) 

Today Nifty Future made high of 10680 again same high of last trading session...!!! So obliviously view remains still same with given zone as resistance. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 26070-26015-25985-25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

Going forward next session being weekly expiry session 26100-26150 shall act as stiff resistance zone for Bank Nifty Future. (Last blog post conclusion) 

Some how due to weekly expiry given resistance zone was cleared in intraday moves today but we feel that today's high shall act as stiff resistance in next session. 

Option Chain Data

Nifty

OPEN INTEREST liquidations can 10500-10600 CE strikes which can considered by exit by buyers. 

Mammoth additions in 10400-10500-10600 PE which can be considered as entry of aggressive entry in next 2-3 sessions...!!! BUT THIS IS NOT CONFIRMED ON CHARTS  

Nifty Bank


Weekly Option Chain

OPEN INTEREST built-up can be seen on both side of next weekly option chain...!!!

Monthly Option Chain

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

26000 CE is having highest OI tag which is indirectly act as resistance and trouble for Bulls...!!! But this is crossed in today's session But going forward we feel that Bears shall try again to come back very soon. 

Put Call Ratio Stands at 1.49 for Nifty whereas for Nifty Bank it is 1.55

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