Nifty & Nifty Bank View for 05/12/2018

SOME HOW BULLS ARE FACING PRESSURE AT HIGHER LEVELS AND DUE TO SERIES OF EVENT IN THIS MONTH SOMEHOW WE FEEL THAT SOME CONSOLIDATION/FALL CANNOT BE RULED OUT...!!!

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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 14 points Loss at 10869

Nifty Bank Closed with 164 points Loss at 26694

Nifty View

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

Resistance zones ~  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 ~ 10840-10815-10785-10740-10715-10690-10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

With slow and steady moves daily it seems Bears are coming back and this moves may lead to fall till 10700-10750 zone. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 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

Due to event tomorrow and then weekly expiry we feel that some flashes can be seen on both side but weekly expiry would be below 27000 spot basis. 

Option Chain Data

Nifty

Aggressive Built-up can be seen on PE front. OPEN INTEREST looking at present set up looks like Bears are getting ready for attack very soon. 

Nifty Bank


Weekly Option Chain

Clear built-up on side can be seen at 26500 PE & 27000 CE which indirectly hints range for remaining sessions of weekly expiry. 

Monthly Option Chain

We can see that 26000 CE though having highest OPEN INTEREST last close is above that strike price. (Repeat comment) 

Put Call Ratio Stands at 1.43 for Nifty whereas for Nifty Bank it is 1.21

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