Nifty & Nifty Bank View for 15/02/2019

ONCE AGAIN BEARS MANAGED TO MARK THEIR PRESENCE FELT FOR NIFTY BUT NOW SEEMS NIFTY BANK BULLS ARE BACK WITH BIG BANG AND SHORT TERM BOTTOM IS ABOUT TO TAKE PLACE FOR BOTH INDICES.

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 48 points Loss at 10746

Nifty Bank Closed with 85 points Gain at 26971

Nifty View

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

Resistance zones ~  10785-10815-10870-10840-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11185-11210-11275-11235-11330-11360-11300-11385-11410-11425-11425-11435-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750

Support ~ 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

Looking at this structure now we feel that 10680-10700 can be strong zone which may come to aid of Bulls. (Previous blog post comment) 

Still lower end of this wedge formation is untouched which leads to doubt over reversal for upside but we feel that Bears shall have last chance tomorrow to do needful. 

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

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

Still demand zone is far but we feel with yesterday and today low almost near we feel that Bulls may strike back very soon. 

Option Chain Data Analysis

Nifty

Weekly Option Chain

10700 PE additions reflects limited downside. (Previous blog post comment) (Expiry over) 

Interesting additions can be seen in 10600, 10700 & 10800 PE which is offset by huge additions on 10800, 10900 & 11000 CE. 

Monthly Option Chain

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

At last change which we were expecting from last 2-3 sessions took place today. 10700 PE gained highest OI tag...!!!

Nifty Bank


Weekly Option Chain

26700-26800 PE OI reflects limited downside but still next session being expiry session we feel that this data may not reflect true picture. (Previous blog post comment) (Expiry over) 

Huge additions on both side took place. 

Monthly Option Chain

Close below 2 top most highest OI on PE front is bit surprising. (Previous blog post comment) 

Nothing abnormal seen at present in this option chain. 

Put Call Ratio 

Weekly 
Stands at 0.68 for Nifty whereas for Nifty Bank it is 0.95

Monthly Weekly 

Stands at 1.10 for Nifty whereas for Nifty Bank it is 1.39

--------------------------------------------------------------------------------------------------------------------------

YOUTUBE CHANNEL 

--------------------------------------------------------------------------------------------------------------------------

FOR LIVE MARKET UPDATE & FREE OPTION CALLS JOIN:- 

T.ME/NIFTY50STRIKERCHANNEL_BOT

--------------------------------------------------------------------------------------------------------------------------

SOCIAL MEDIA TOUCH POINTS:-

T.ME/NIFTY50STRIKERCHANNEL_BOT

FACEBOOK.COM/NIFTY50STRIKER

TWITTER.COM/NIFTY50STRIKER

--------------------------------------------------------------------------------------------------------------------------

IN CASE OF ANY QUERY/SUGGESTIONS READERS ARE REQUESTED TO CONTACT US NIFTY50STRIKER@GMAIL.COM OR 08866145155

--------------------------------------------------------------------------------------------------------------------------

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.