Nifty & Nifty Bank View for 01/01/2019

NIFTY & NIFTY BANK WERE STRUCK IN RIGHT RANGE WITH LOW VOLUMES AND SAME MAY CONTINUE IN NEXT SESSION AS WELL ON ACCOUNT OF HOLIDAYS...!!!

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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 3 points Gains at 10863

Nifty Bank Closed with 35 points Gains at 27160

Nifty View

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

Resistance zones ~  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 ~ 10740-10715-10690-10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

Looking at chart structure and fibo tool we feel that Bulls may face some problem in clearing 10800-10820 zone in next session. (Previous blog spot view)

10800-10820 is strong support zone for next session. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 26805-26765-26695-26650-26615-26520-26450-26410-26325-26285-26255-26170-26070-26015-25985-25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

With some adjustment again Dark cloud cover candle can be seen on Chart which cam be interpreted as today's high shall act as resistance for next session. (Previous blog spot view)

27000-27100 is going to be strong support zone for next session. 

Option Chain Data

Nifty

Bit premature to conclude any thing at present but 11000 PE Open Interest is quite surprising.  (Repeat comment) 

But somehow we feel that Bulls shall make their presence felt in this series and every dip will be buying opportunity in this series till 10700 level spot basis. 

Nifty Bank


Weekly Option Chain

One more fall till 26500 or lower levels is pending before weekly expiry. (Previous blog post comment) 

Seems Bulls may try their best to touch 27400 in weekly series. 

Monthly Option Chain

Bit premature to conclude any thing at present but 27500 PE Open Interest is quite surprising. (Previous blog post comment) 

Too much scattered data to conclude anything. 

Put Call Ratio Stands at 1.26 for Nifty whereas for Nifty Bank it is 1.22

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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.