AFTER MORE THAN 50% RETURN IN SINGLE OPTION TRADE IN TITAN 1000 CE (FROM 38 TO 60) WE HAVE HIT ANOTHER GOOD OPTION TRADE IN TITAN 1060 CE. TO CHECK TRADES CLICK ON STRIKE PRICES.
AS OF NOW NO REVIEW IS REQUIRED FOR OUR WEEKLY VIEW ON NIFTY & NIFTY BANK
INCASE IF YOU HAVE MISSED OUR WEEKLY VIEW BLOG POST PLEASE CLICK HERE TO READ THAT BLOG POST.
AS OF NOW NO REVIEW IS REQUIRED FOR OUR WEEKLY VIEW ON NIFTY & NIFTY BANK
INCASE IF YOU HAVE MISSED OUR WEEKLY VIEW BLOG POST PLEASE CLICK HERE TO READ THAT BLOG POST.
Nifty Spot Closed with 22 points gain at 10934
Nifty Bank Closed with 85 points gain at 27272
Nifty View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Resistance zones ~ 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 ~ 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
We feel that Bears have good chance to strike back in next 2-3 sessions for 10700 levels. (Previous blog post conclusion)
Still supply zone is very strong and Bulls must manage close above this zone for more upside.
Nifty Bank View
Now for next trading session important Resistance & Support Levels (Spot basis) are as under:-
Support ~ 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
We feel that Bears have good chance to strike back in next 2-3 sessions for 10700 levels. (Previous blog post conclusion)
Still supply zone is very strong and Bulls must manage close above this zone for more upside.
Nifty Bank View
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
Still we feel Bulls are over confident which shall give chance to Bears to strike back. (Previous blog post conclusion)
Bulls may find it difficult to cross 27340-27350, 27440-27450 & 27540-27540 for next 2 sessions on hourly charts.
Option Chain Data Analysis
Nifty
Positions built-up is taking pace but looking at structure we feel that 10700 levels may come first below 11200 (Previous blog post conclusion)
Some downside till 10850-10860 is required for more upside move and close above 11k mark.
Nifty Bank
Weekly Option Chain
27500 CE shall act as resistance but on downside we feel that 27000 must as support for 1 session atleast. (Previous blog post conclusion)
No major downside is expected below 27000 but still upside 27500 shall act as strong resistance.
Monthly Option Chain
27500 PE is still having good open interest which shall restrict Bulls. (Previous blog post conclusion)
No change in view.
Put Call Ratio Stands at 1.41 for Nifty whereas for Nifty Bank it is 1.55
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