Some how Bulls are managing to overcome small small downside moves and closing with gains...!!!
Before we start further we would like to share Feedback that we have received from one of our Workshop Participant.
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 OUR ONLINE WORKSHOP. PLEASE CLICK HERE IF YOU WANT TO JOIN.
Before we start further we would like to share Feedback that we have received from one of our Workshop Participant.
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 OUR ONLINE WORKSHOP. PLEASE CLICK HERE IF YOU WANT TO JOIN.
Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.
Nifty Spot Closed with 57 points Gain at 10686
Nifty Bank Closed with 78 points Gain at 26443
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
We can see that in chart those who went short on last week with an expectation of Breakout were forced to book loss today on account of up-move that took place today. (Previous blog post conclusion)
Still we feel that 10700 must act as strong resistance in for this series. (Previous blog post conclusion)
Going forward we feel that Bulls managed to give close above 10700 then more up-move of 120-150 points can be ruled out.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955
We can see that in chart those who went short on last week with an expectation of Breakout were forced to book loss today on account of up-move that took place today. (Previous blog post conclusion)
Still we feel that 10700 must act as strong resistance in for this series. (Previous blog post conclusion)
Going forward we feel that Bulls managed to give close above 10700 then more up-move of 120-150 points can be ruled out.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance Zone ~ 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 ~ 26410-26325-26285-26255-26170-26070-26015-25985-25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980
Conclusion
Nifty Bank closed at highest level in this series. (Previous blog post conclusion)
Now going further if Bulls are able to close above 26500 then fast move for 200-300 points on upside can be seen...!!! (Previous blog post conclusion)
We can see that 26500 is acting as strong resistance for Nifty Bank but going forward we feel that this resistance may get crossed in next session but closing is important.
Option Chain Data
Nifty
It is bit difficult to have exact inference from OPEN INTEREST as we have only 2 sessions left for this series and also we have very old December series.
Nifty Bank
Monthly Option Chain
It is bit difficult to have exact inference from OPEN INTEREST as we have only 2 session left for this series.
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