No matter what Global Markets cues are all about; Nifty & Nifty Bank are having their own story-line to write about...!!
Infact in our last blog post we had said that Nifty Bank may cross 27200 in this weekly expiry...!!!
Today despite of all odd Bulls cleared that level as well...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW INCASE IF YOU MISSED THAT WE REQUEST YOU TO CLICK ON CLICK HERE
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
Infact in our last blog post we had said that Nifty Bank may cross 27200 in this weekly expiry...!!!
Today despite of all odd Bulls cleared that level as well...!!!
WE HAVE ALREADY SHARED OUR WEEKLY VIEW INCASE IF YOU MISSED THAT WE REQUEST YOU TO CLICK ON CLICK HERE
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
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. (Previous blog post conclusion)
Looking at structure and moves we feel that Bulls may get few points short for 11k mark in next session or 2.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
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
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. (Previous blog post conclusion)
Looking at structure and moves we feel that Bulls may get few points short for 11k mark in next session or 2.
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. (Previous blog post conclusion)
Stage is getting set for 27500+ in this week.
Option Chain Data
Nifty
Good liquidation can be seen in ITM CE and on PE front mammoth additions reflected frustrated Bears. (Previous blog post conclusion)
ITM CE liquidation and ATM PE additions reflects frustrated Bears position Built-up...!!!
Nifty Bank
Weekly Option Chain
Somehow we feel that Option Traders getting equipped for 27200+ levels in current weekly expiry. (Previous blog post conclusion)
We are expecting some consolidation with positive moves in next session.
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.
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