WHAT A PHENOMENAL COME BACK BY BULLS...!!!
AS OF NOW 10650 IS SAFE ON CLOSING BASIS AND BULLS STILL ABLE TO STRIKE BACK WHICH WE HAVE SEEN IN LAST 2 SESSIONS...!!! INFACT THIS WAS ALREADY DISCUSSED IN OUR WEEKLY VIEW FOR NIFTY & NIFTY BANK.
OUR JANUARY 2019 WEEKEND ONLINE WORKSHOP ALREADY STARTED AND ABOUT 3 HOURS SESSIONS IS ALREADY CONDUCTED BUT IF YOU WANT TO JOIN THAT WORKSHOP THEN WE ARE STILL TAKING LATERAL ENTRY IN SAME. PLEASE CALL 08866145155 FOR MORE DETAILS.
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INCASE IF YOU ANY HAVE QUERY PLEASE CALL US ON 08866145155 OR DROP MAIL REQUEST ON NIFTY50STRIKER@GMAIL.COM
AS OF NOW 10650 IS SAFE ON CLOSING BASIS AND BULLS STILL ABLE TO STRIKE BACK WHICH WE HAVE SEEN IN LAST 2 SESSIONS...!!! INFACT THIS WAS ALREADY DISCUSSED IN OUR WEEKLY VIEW FOR NIFTY & NIFTY BANK.
OUR JANUARY 2019 WEEKEND ONLINE WORKSHOP ALREADY STARTED AND ABOUT 3 HOURS SESSIONS IS ALREADY CONDUCTED BUT IF YOU WANT TO JOIN THAT WORKSHOP THEN WE ARE STILL TAKING LATERAL ENTRY IN SAME. PLEASE CALL 08866145155 FOR MORE DETAILS.
WE ARE OFFERING 3 MONTHS FREE OPTION TRADING SUPPORT ALSO IF YOU ARE OPTING FOR TECHNICAL ANALYSIS + OPTION TRADING WORKSHOP IN SAME BATCH.
INCASE IF YOU ANY HAVE QUERY PLEASE CALL US ON 08866145155 OR DROP MAIL REQUEST ON NIFTY50STRIKER@GMAIL.COM
Nifty Spot Closed with 9 points loss at 10652
Nifty Bank Closed with 80 points loss at 26573
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750
Support ~ 10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955
CONCLUSION
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. (Previous blog post comment)
We can see that today's candle is doji candle and somehow still it is in demand zone so next 2 sessions are important for next BIG move.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 10650-10615-10585-10555-10525-10500-10460-10380-10350-10325-10325-10295-10270-10225-10180-10140-10110-10075-10045-10005-9955
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. (Previous blog post comment)
We can see that today's candle is doji candle and somehow still it is in demand zone so next 2 sessions are important for next BIG move.
Nifty Bank View
Resistance Zone ~ 26615-26650-26695-26765-26805-26900-26970-27045-27145-27230-27335-27405-27470-27600-27640-27680-27720-27790-27825-27845-27890-27940-27970-28060-28130-28175-28210-28265-28320-28375-28320-28375
Support ~ 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
Bears managed to score century but still 10650 remained safe on closing basis. But some more downside cant be ruled out. (Previous blog post comment)
As discussed in weekly blog post rising wedge had given breakdown and target for same is almost achieved. Now we feel that 26400-26450 shall act as strong support for remaining sessions of this expiry. Further today's doji candle is in demand zone.
Option Chain Data Analysis
Nifty
Easy 100-150 points more on downside cant be ruled out.(Previous blog post comment)
Expectation was 100-150 points and bears managed about 78 points (from previous close to today's low) Going forward we feel that today's low shall remain safe for remainig sessions of this expiry.
Nifty Bank
Monthly Option Chain
More flashes below 26500 cant be ruled out. (Previous blog post comment)
Expectation was flashes below 26500 and today's low is 26441...!!! Going forward we feel that 26400 shall remain untouched in remaining sessions of this series.
Put Call Ratio Stands at 0.83 for Nifty whereas for Nifty Bank it is 0.72
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