Nifty & Nifty Bank View for 14/02/2019

WE HAD EXPECTED 10800 (+/- 20 POINTS) & 27000 (+/- 100 POINTS) FOR NIFTY & NIFTY BANK IN OUR 2nd BLOG POST IN THIS WEEK AND TODAY IT IS DONE...!!!

MOVES IN NIFTY & NIFTY BANK ARE IN LINE TO OUR WEEKLY VIEW

Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.

Nifty Spot Closed with 38 points Loss at 10794

Nifty Bank Closed with 125 points Loss at 26885

Nifty View

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

Resistance zones ~  10815-10870-10840-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750

Support ~ 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

No Need to review again. (Previous blog post comment) 

Looking at this structure now we feel that 10680-10700 can be strong zone which may come to aid of Bulls.  

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

No Need to review again (Previous blog post comment) 

Seems this Bears cartel shall (except HDFC Bank all banks closed in red) drag Nifty Bank to demand zone. 

Option Chain Data Analysis

Nifty

Weekly Option Chain

10800 PE came to aid of Bulls today (Highest OI acted as support) . For next session some more built-up may take place. (Previous blog post comment) 

10700 PE additions reflects limited downside. 

Monthly Option Chain

Good liquidation can be seen on PE front. (Previous blog post comment) 

Good liquidation can be seen on PE front. (Repeat comment) 

Nifty Bank


Weekly Option Chain

As per this structure now downside is limited. (Previous blog post comment) 

26700-26800 PE OI reflects limited downside but still next session being expiry session we feel that this data may not reflect true picture. 

Monthly Option Chain

As per this structure now downside is limited. (Previous blog post comment) 

Close below 2 top most highest OI on PE front is bit surprising. 

Put Call Ratio 

Weekly 
Stands at 0.57 for Nifty whereas for Nifty Bank it is 0.62

Monthly Weekly 

Stands at 1.20 for Nifty whereas for Nifty Bank it is 1.49

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.