Nifty & Nifty Bank View for 18/12/2018

1st DAY OF WEEK AND BULLS STARTED WEEK WITH FULL CAPACITY...!!!

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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 83 points Gain at 10888

Nifty Bank Closed with 190 points Gain at 27016

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

Still 100% upmove of previous swing is not completed. Further psychological level 11000 is very near. So we feel that somehow Bulls may face difficulty in crossing 10940-10960 zone. Entire Structure needs to be restudied one Bulls manages to close above 10940-10960 zone. 

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

We can see that last close/candle is within supply zone. Close above 27200 (spot) is required to study entire structure again. 

Option Chain Data

Nifty

Good liquidation can be seen in ITM CE and on PE front mammoth additions reflected frustrated Bears. 

Nifty Bank


Weekly Option Chain

Somehow we feel that Option Traders getting equipped for 27200+ levels in current weekly expiry. 

Monthly Option Chain

Structure is not giving any clear indication.  

Put Call Ratio Stands at 1.39 for Nifty whereas for Nifty Bank it is 1.27

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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.