Nifty & Nifty Bank View for 27/12/2018

NO MATTER WHAT GLOBAL MARKET ARE INTO OR GLOBAL CUES ARE; INDIAN MARKETS HAVE THEIR OWN PATH OR ROAD TO WALK ON...!!!

MOVES IN NIFTY ARE IN LINE WITH OUR WEEKLY VIEW THAT WE HAVE ALREADY SHARED DURING WEEKEND. INCASE IF YOU MISSED THAT WE REQUEST YOU TO CLICK ON CLICK HERE 

AFTER TODAY'S GAP DOWN OPENING THERE WAS SOME DIVERGENCE SEEN ON HOURLY CHARTS. FOR LEARNING PURPOSE WE ARE SHARING THAT CHART AS UNDER:- 

INFACT ON BASIS OF THAT WE HAD ALSO SHARED OPTION SPREAD TRADE WITH OUR TRADING MEMBERS

ON 29 & 30 DECEMBER 2018 WE ARE GOING TO CONDUCT ONLINE WORKSHOP ON OPEN INTEREST & OPTION CHAIN ANALYSIS WITH 1 MONTH ONLINE/OFFLINE SUPPORT WITH COMPLETE OPTION CHAIN DATA. WE ARE CHARGING 5000/- INCASE IF YOU ANY HAVE QUERY PLEASE CALL US ON 08866145155 OR DROP MAIL REQUEST ON NIFTY50STRIKER@GMAIL.COM

FROM 26 JANUARY 2019 WE ARE GOING START ONLINE WORKSHOP TECHNICAL ANALYSIS & OPTION AND/OR TRADING (WEEKEND BATCH)

WE ARE CHARGING 10000/- FOR 4 MONTHS BUT AS EARLY BIRD OFFER WE ARE OFFERING 25% DISCOUNT TILL 31 DECEMBER 2018. INCASE IF YOU ANY HAVE QUERY PLEASE CALL US ON 08866145155 OR DROP MAIL REQUEST ON NIFTY50STRIKER@GMAIL.COM OR IF YOU WISH YOU CAN JOIN OUR WHATSAPP GROUP (CREATED FOR WORKSHOP PURPOSE ONLY)

Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with 66 points Gains at 10730

Nifty Bank Closed with 272 points Gains at 26987

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

Divergence posted in last daily blog it proving its worth. (as divergence was already active on smaller time-frame and same was updated on our twitter handle)

Going forward looking at Daily Chart we feel that for this expiry 10480-10520 must act as strong support zone. (Previous blog spot view)

Next session being expiry we feel that some volatile moves cant be ruled out. Further looking at moves in last 3-4 sessions it makes no sense to share any level for expiry. 

Nifty Bank View

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

Resistance Zone ~ 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 ~ 26970-26900-26805-26765-26695-26650-26615-26520-26450-26410-26325-26285-26255-26170-26070-26015-25985-25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

Looking at Daily Chart support is too far (below 25800) but going forward we feel that expiry shall be below 26500 levels (Previous blog spot view)

Next session being expiry we feel that some volatile moves cant be ruled out. Further looking at moves in last 3-4 sessions it makes no sense to share any level for expiry. 

Option Chain Data

Nifty

At present we do not see expiry 10500 looking at option chain data. (Previous blog spot view)

Looking at Option Chain we feel that Nifty must move with negative bias tomorrow. 

Nifty Bank


Monthly Option Chain

Mammoth additions can be seen OTM PE front which indicates more downside left in this series. (Previous blog spot view)

Looking at Option Chain we feel that Nifty Bank must move with negative bias tomorrow. 

Put Call Ratio Stands at 1.18 for Nifty whereas for Nifty Bank it is 1.08

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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.