Nifty & Nifty Bank View for 14/12/2018

GOOD VOLATILE MOVES ON ACCOUNT OF WEEKLY EXPIRY...!!!

AS OF NOW DESPITE OF VOLATILE MOVES NIFTY & NIFTY BANK ARE WELL WITHIN OUR EXPECTED RANGE FOR THIS WEEK WHICH WE HAD MENTIONED IN OUR WEEKLY BLOG POST. 

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 54 points Gain at 10791

Nifty Bank Closed with 173 points Gain at 26816

Nifty View

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

Resistance zones ~  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 ~ 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

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...!!! (Previous blog post comment) 

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.  (Previous blog post comment) 

10780-10800 zone was cleared but Bulls failed to clear that on closing basis. Going forward we feel that 10820-10870 will be strong hurdle 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

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. (Previous blog post comment) 

As expected Bulls managed to clear 200 points easily above 26600-26700 zone. But now for next session we feel that 27000 must act as strong resistance. 

Option Chain Data

Nifty

Now clear frustration can be seen on Bears camp with huge additions in 10600 PE. Good Long unwinding can be seen on CE front. (Previous blog post comment) 

Looking at Option chain Structure we feel that in next session Bulls may take rest of this up move or we may have some pause. 

Nifty Bank


Weekly Option Chain

Premature to say anything at present

Monthly Option Chain

Once again 27000 acted as resistance an we feel that some pause of dip can't be ruled in next session or 2 

Put Call Ratio Stands at 1.31 for Nifty whereas for Nifty Bank it is 1.25

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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.