NIFTY BANK NIFTY OVERVIEW FOR TOMORROW (27.02.2020)

                          NIFTY BANK NIFTY OVERVIEW FOR TOMORROW (27.02.2020)

         As we mentioned in last post (NIFTY TOMORROW) 11780 will be the breakdown level for nifty for further fall or pain in market nifty open below this support at 11738 and hits intraday low 11639.60 while during day try to recover or by short covering hit high 11883 almost market in recovery mode but failed in last session and closed below 11700 that is 11678.50.

                                                                  NIFTY CHART TODAY

NIFTY CHART PATTERN 26 FEBRUARY 2020

NIFTY:Nifty formed again bearish candle today.Nifty  made fourth bearish candle in a row now next pivot support on 11606.50.Tomorrow monthly expiry ahead on 27.02.2020.Nifty may range 11600 to 11785.

BANK NIFTY CHART PATTERN 26 FEBRUARY 2020

NIFTY BANK:Bank nifty made doji type candle but trend is still downtrend closed on 30306.35 made low 30131.75and formed perfect doji candle 30081 is important pivot for bank nifty


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Technical data for Monday on date 26 February 2020.

1.Option chain data 

i.Option chain data (Nifty 50)

1	Highest open interest call strike price	11700
2	Highest open interest put strike price	11700

In 11700 call strike price open interest stands 2,041,275 contract  and on 11800 put side open interest stands 3,033,450 contract

ii.Option chain data (Nifty Bank)

1	Highest open interest call strike price	30000
2	Highest open interest put strike price	30500

In  bank nifty 30500 stile price has 672,840 open interest and 30000 put has 861,860 open interest


 2.Support and Resistance (as per pivot)

 i.Nifty 50

PIVOT POINT		11700
SUPPORT 1	11700	RESISTANCE 1	11761
SUPPORT 2	11556.83	RESISTANCE 2	11844
SUPPORT 3	11474.07	RESISTANCE 3	11905

 

 ii.Nifty Bank

PIVOT POINT		30317.97
SUPPORT 1	30120.63	RESISTANCE 1	30504.13
SUPPORT 2	29934.47	RESISTANCE 2	30701.47
SUPPORT 3	29737.13	RESISTANCE 3	30887.63

3.Technical indicators


 i.Nifty

1	RSI	39.269	Sell
2	MACD	-78.160	Sell
3	ADX	13.829	Neutral
4	STOCH	85.332	Overbought

 ii.Nifty Bank

1	RSI	40.563	Sell
2	MACD	-257.610	Sell
3	ADX	15.130	Neutral
4	STOCH	92.123	Overbought

4.Candlestick Pattern

i.Nifty:  Short bearish red candle
ii.Nifty Bank: Doji candle



For more detail about candlestick of all important stock please visit fno candle pattern today and for support and resistance of all future and option stock click to FNO SUPPORT AND RESISTANCE.

Disclaimer: This post not suggesting any tips/recommendation for any stock/index/script
  to buy or sell just posting as per technical data as per technical indicator
 suggesting,for study purpose only.