Nifty & Nifty Bank View for 13/12/2018

ONCE AGAIN BULLS MANAGED TO LIFT NIFTY  &NIFTY BANK RIGHT FROM START AND MANAGED TO CLOSE NEAR TO DAY HIGH...!!!

OUR GIVEN RANGE FOR NIFTY IS 10XXX TO 10XXX AND FOR NIFTY NIFTY BANK IT IS 25XXX TO 27XXX IN OUR WEEKLY BLOG POST AND TILL NOW IT IS COMPLETELY RESPECTED. 

INCASE IF YOU HAVE MISSED OUR BLOG POST WE REQUEST YOU TO WEEKLY BLOG POST CLICK HERE TO READ THAT POST. 

ON 22 & 23 DECEMBER 2018 WE ARE GOING TO ONLINE WORKSHOP ON OPEN INTEREST & OPTION CHAIN ANALYSIS WITH 1 MONTH ONLINE/OFFLINE SUPPORT WITH COMPLETE OPTION CHAIN DATA. WE ARE CHARGING 5000/- BUT AS EARLY BIRD OFFER WE ARE OFFERING 10% DISCOUNT TILL 17 DECEMBER 2018. INCASE IF YOU ANY HAVE QUERY PLEASE CALL US ON 08866145155 OR DROP MAIL REQUEST ON NIFTY50STRIKER@GMAIL.COM

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 188 points Gain at 10738

Nifty Bank Closed with 480 points Gain at 26644

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

We can see in chart that last session high is almost same and hence that may act as resistance going forward any close above 10600-10620 (spot basis) shall lead to more upside till 10680-10700 zone in quick time. (Previous blog post comment) 

Expectation was close above 10600-10620 zone and more upside till 10680-10700 but Bulls were in too much hurry to conquer new highs for week...!!!

We can see in chart that going forward 10780-10800 must act as strong resistance zone for next 2 sessions. Now if in case that is clear then again fast moves for 10900+ can't be ruled out.  

Nifty Bank View

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

Resistance Zone ~ 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 ~ 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

Clear Bullish signs are seen in today's big GREEN candle; going forward we feel that Bulls shall try to lift index till 26500 levels on or before weekly expiry. (spot basis) (Previous blog post comment) 

It is clearly visible on chart that 26690-26700 is going to act as resistance zone but above that again 200-300 points up-move can't be ruled out. 

Option Chain Data

Nifty

Good additions can be in different ITM & OTM CE strike prices. (Bullish biasness)  (Previous blog post comment) 

Now clear frustration can be seen on Bears camp with huge additions in 10600 PE. Good Long unwinding can be seen on CE front. 

Nifty Bank


Weekly Option Chain

Good liquidation can be seen on both side of Option Chain. Perhaps Writers are trying to take benefit of high premiums. (Previous blog post comment) 

CE unwinding (long) can be seen. (We do not consider traditional definition of price and open interest for options) 

Monthly Option Chain

Good Liquidation in 26000 & 26500 PE hints time being bottom being made. (Repeat comment) 

Put Call Ratio Stands at 1.18 for Nifty whereas for Nifty Bank it is 1.20

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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.