Nifty & Nifty Bank View for 22/01/2019

1st DAY OF WEEK AND BULLS STARTED WEEK WITH BIG BANG...!!!

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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 55 points gains at 10962

Nifty Bank Closed with 77 points gains at 27534

Nifty View

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

Resistance zones ~  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 ~ 10940-10895-10870-10840-10815-10785-10740-10715-10690-10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955

CONCLUSION

10965-10990 is strong resistance zone and Bulls may face some problem to clear this zone in next session. 

Nifty Bank View

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

Resistance Zone ~ 27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 27470-27405-27335-27230-27145-27045-26970-26900-26805-26765-26695-26650-26615-26520-26450-26410-26325-26285-26255-26170-26070-26015-25985-25920-25810-25775-25650-25455-25340-25220-25065-25150-24810-24680-24515-24380-24250-24010-23810-23660-23575-23475-23445-23215-23090-22980

Conclusion

27720-27755 is strong resistance zone and on downside 27250-27180 must act as support zone. 

Option Chain Data Analysis 

Nifty

Major liquidation on CE front leads to some doubt over major upside. Sudden move on upside shocked Bears and that can be seen by huge additions on PE front. 

Nifty Bank

Weekly Option Chain


27700 must act as resistance for next session. On downside 27200 is good support as per built-up on weekly option chain. 

Monthly Option Chain

One close below 27500 is must as per option chain data. 

Put Call Ratio Stands at 1.40 for Nifty whereas for Nifty Bank it is 1.24

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