Nifty & Nifty Bank View for 21/11/2018

SUDDEN STRIKE BY BEARS PUT EVERYONE IN SHOCK...!!!

TODAY'S FALL WAS UNEXPECTED BUT STILL SOMEHOW STILL OUR GIVEN RANGE FOR THIS WEEK IS NOT YET BREACHED. WE HAVE ALREADY SHARED OUR WEEKLY VIEW INCASE IF YOU HAVE MISSED OUR WEEKLY BLOG POST PLEASE CLICK HERE TO READ SAME.

WE ARE GOING TO START LAST 2 BATCHES ON TECHNICAL ANALYSIS + OPTION TRADING (ONLINE MODE ONLY) FROM 3rd WEEK OF DECEMBER 2018. WE ARE OFFERING 10% DISCOUNT ON OUR WORKSHOP FEE. PAY 6750/- FOR 4 MONTHS INSTEAD OF 7500/- FOR 4 MONTHS INCASE IF YOU ARE INTERESTED TO LEARN TECHNICAL ANALYSIS ONLY WHEREAS OF TECHNICAL ANALYSIS + OPTION TRADING WE ARE CHARGES 13500/- FOR 6 MONTHS INSTEAD OF 15000/- FOR 6 MONTHS. 

WE HAVE ALSO CREATED WHATSAPP GROUP INCASE IF YOU ARE INTERESTED TO JOIN EITHER OR BOTH OF WORKSHOP. PLEASE CLICK HERE IF YOU WANT TO JOIN 

INFACT THOSE WHO JOINED THAT GROUP PRIOR TO TODAY'S SESSION MAY HAVE RECOVERED MORE THAN 100% OF WORKSHOP FEE AS WELL...!!!

WE HAD SHARED ONLY 1 TRADING CALL IN OUR THAT GROUP

• [11:34 AM, 11/20/2018] Manush Vadher: Bought #UPL 760 PE at 15.25 sl 13.90
• [11:51 AM, 11/20/2018] Manush Vadher: [11:34 AM, 11/20/2018] Manush Vadher: Bought #UPL 760 PE at 15.25 sl 13.90
• [11:34 AM, 11/20/2018] Manush Vadher: Bought #UPL 760 PE at 15.25 sl 13.90
• [11:51 AM, 11/20/2018] Manush Vadher: [11:34 AM, 11/20/2018] Manush Vadher: Bought #UPL 760 PE at 15.25 sl 13.90
• INTRADAY TRADERS MAY EXIT AROUND 19
• EXIT UPDATE FOR THIS GROUP 
• HIGH OF 22 LTP 21.95 
• CALL CLOSED FROM OUR SIDE WITH GAINS OF ABOUT 8100/LOT

LAST 2 SESSIONS TRADE DETAILS SHARED ON TWITTER HANDLE AND/OR AS WELL AS TELEGRAM BOT

• Same call was also shared on Twitter & handle & Telegram Bot 

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

• Sunpharma 530 CE from 12.40 to 9.25 (lot size 2400) (BTST) 

• Loss of 3.15 points or 3465/lot

• ITC 285 CE from 4.10 to 3.40 (lot size 2400) (BTST) 

• Loss of 0.60 point per lot or 1680/lot 

WE ARE GOING TO CONDUCT FREE WEBINAR ON DIVERGENCE ON SATURDAY TO REGISTER CLICK HERE

Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with 107 points Loss at 10656

Nifty Bank Closed with 187 points Loss at 26113

Nifty View

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

Resistance zones ~  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 ~ 10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

Bulls may struggle to clear 10800-10810 Nifty Future Zone. Above that quick move of 80-100 points can't be ruled out. (Previous blog post comment) 

As expected in Weekly blog spot gap zone may act as resistance zone or supply zone but for next session we feel that spot Nifty may find some support in 10600-10610 zone. 

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

Some how today's doji candle is not convincing for Bulls. (Previous blog post comment) 

26450-26500 is strong resistance zone as per charts for Bank Nifty Future. (Previous blog post comment) 

Nothing major we feel is there major negative for Bulls on Daily charts

Option Chain Data

Nifty

Atlast 10800 CE gain highest OPEN INTEREST tag...!!!

Nifty Bank


Weekly Option Chain

OPEN INTEREST built-up has already taken place but somehow no clear trend can be inferred at present. (Repeat comment) 

But We feel that 26500 shall act as resistance (highest OI CE front) PE front good additions hints more downside but charts does not confirm that..!!!

Monthly Option Chain

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

Put Call Ratio Stands at 1.49 for Nifty whereas for Nifty Bank it is 1.50

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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.