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NIFTY WEEKLY REPORT : TECHNCIAL VIEW 27 to 31 Aug
Nifty index closed 5386.70 with the gain of 20.40 pts or 0.38%. The Nifty July future finally settled at a gain of 20.35 pts or 0.38% up at 5402.70 and decreased 305400 shares in the open interest. The Nifty future turned to the premium of 16 from 16.05 earlier. Whereas cost of carry is 3.70 vs. 7.35 down 49.66%. Nifty future has closed at 5402.70 and now next logical resistance is at 5500 and 5560 levels, and good support near 5320 and 5240 levels.
BANK NIFTY WEEKLY OUTLOOK 27 to 31 Aug
Bank Nifty index closed at with the loss of 82.05 pts or -0.79% .The Bank Nifty July futures finally settles with the loss of 94 pts or -0.90% down at 10366.95 and decreased 131400 shares in the open interest. The Bank Nifty future came to a premium of 34.10 from 46.05 earlier, whereas cost of carry is 3.33% vs 4.98%. Bank Nifty futures closed at 10366.95 and now next logical resistance is at 10650 and 10800 levels, and good support near 10250 and 10000 levels.
OPTION TRADING STRATEGY
On the call options front addition of open interest was witnessed in the last trading week at strike price of 5400 and 5500. On the put options front we have seen addition of open interest in the last trading week at strike price of 5000 and 5300.
OI Chart Analysis: In coming sessions market may trade in a range of 5200-5600. The call option strike price 5500 will act as major resistance level where as the put option strike price with the maximum number of open interest i.e. 5000 will act as major support level.
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