Yesterday we had posted our view on YESBANK Chart with description on our Twitter Handle as well as on Telegram Bot
To have easy understanding on chart lets try to see chart after yesterday and today's session.
Above is chart after yesterday's session now below is chart after today's session...!!!
Expectation was 160 for December series and today's (for December series future) is 160.90 where as for spot it is 160.30 so hereby we are almost done with target or expected level for said stock in just 1 session and very early than expected time period...!!!
In fact we have booked more than 75% of holding in December series 160 PE today only for the trade taken at start of session today.
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.
To have easy understanding on chart lets try to see chart after yesterday and today's session.
Expectation was 160 for December series and today's (for December series future) is 160.90 where as for spot it is 160.30 so hereby we are almost done with target or expected level for said stock in just 1 session and very early than expected time period...!!!
In fact we have booked more than 75% of holding in December series 160 PE today only for the trade taken at start of session today.
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 43 points Gain at 10729
Nifty Bank Closed with 15 points Gain at 26458
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 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 ~ 10715-10690-10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955
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. (Previous blog post conclusion)
Chart setup and structure looks for next session as Bulls managed to close above 10700 levels. But we still feel road ahead would not easy as Bulls faced resistance at gap zone only. (Gap 10755-10844)
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10715-10690-10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955
Going forward we feel that Bulls managed to give close above 10700 then more up-move of 120-150 points can be ruled out. (Previous blog post conclusion)
Chart setup and structure looks for next session as Bulls managed to close above 10700 levels. But we still feel road ahead would not easy as Bulls faced resistance at gap zone only. (Gap 10755-10844)
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
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. (Previous blog post conclusion)
For more of time Bulls managed to sustain Nifty Bank above 26500 but in last 2 hours some profit booking was seen. For next session we feel that 26500-26600 shall act as resistance zone.
Option Chain Data
Nifty
It is bit difficult to have exact inference from OPEN INTEREST as we have only 1 sessionsleft 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 1 session left for this series.
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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.
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