Nifty & Nifty Bank View for 28/12/2018

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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 50 points Gains at 10780

Nifty Bank Closed with 108 points Loss at 26878

Nifty View

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

Resistance zones ~  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 ~ 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

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. (Previous blog spot view)

Looking at chart structure and fibo tool we feel that Bulls may face some problem in clearing 10800-10820 zone in 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

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. (Previous blog spot view)

With some adjustment again Dark cloud cover candle can be seen on Chart which cam be interpreted as today's high shall act as resistance for next session. 

Option Chain Data

Nifty

Bit premature to conclude any thing at present but 11000 PE Open Interest is quite surprising.  

Nifty Bank


Weekly Option Chain

One more fall till 26500 or lower levels is pending before weekly expiry. 

Monthly Option Chain

Bit premature to conclude any thing at present but 27500 PE Open Interest is quite surprising.  

Put Call Ratio Stands at 1.26 for Nifty whereas for Nifty Bank it is 1.32

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