Nifty & Nifty Bank View for 25/01/2019

GOOD ZIG ZAG MOVES WITH VOLATILITY AND END RESULT WAS IN FAVOR OF BULLS...!!!

YESTERDAY IT WAS ITC WHO HELPED BEARS AND IT WAS YES BANK WHO CAME TO AID OF BULLS...!!!

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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 18 points gain at 10850

Nifty Bank Closed with 16 points gain at 27266

Nifty View

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

Resistance zones ~  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 ~ 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

Still Demand zone is bit far and Bears managed to close near to day's low. Some more downside moves can't be ruled out.(Previous blog post comment) 

As expected some downside was seen in today session. We feel that some how Bulls managed to lift Nifty from lower levels but we feel that if Bears manage to close below 10800 then more downside move till 10730-10750 can't be ruled out.

Nifty Bank View

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

Resistance Zone ~ 27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375

Support ~ 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

With close within demand zone and next session being expiry session some more downside cant be ruled out. But close below 27000 is bit difficult in this week as of now.(Previous blog post comment) 

Bit difficult but if Bears manage to make one more low till 27100 (+/- 20 points) we wont be surprised. 

Option Chain Data Analysis

Nifty

More profit booking can be seen on PE front by mammoth liquidation. (We do not consider textbook language of Open Interest for option chain changes) (Previous blog post comment) 

Good additions PE front reflects overconfident Bears...!!!

Nifty Bank

Monthly Option Chain


With moves till 27200 almost done we shall restudy this after tomorrow session (Previous blog post comment) 

Good additions PE front reflects overconfident Bears...!!!

Put Call Ratio Stands at 1.13 for Nifty whereas for Nifty Bank it is 1.05

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