NIFTY gapped down yesterday and then remained volatile for rest of the day and closed in RED due to Global cues. US and European markets closed in RED yesterday. Asian markets are trading flat with positive bias. SGX NIFTY is indicating flat opening.
Yesterday FIIs sold both in Cash and Futures market with small quantity and DIIs continued their long saga of selling in Cash market.
F&O Data Analysis (24th Sep series): More CALLs written yesterday compared to PUTs. Highest OI for CALLs at 12000 and 11600 strikes. More OI added yesterday at 11500 & 11600 strikes. Highest OI on PUT side is at 11500 and 11000. More PUTs are added at 10800 and 11000 levels. PCR is down to 1.09 and Maxpain also down by 50 points and now at 11500.
Technically speaking 11450, 11380 and 11185 are important Support Levels and 11620 and 11800 are important Resistance levels based on Daily charts for Positional play. For today 11560 is important Resistance level and 11500, 11475 and 11450 are important Support levels.
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Disclaimer: Above analysis is just my opinion based on Technical Analysis, F&O Data study and my experience in the market. This information is for educational purpose only, and it possible that my analysis may go wrong. So, take your own decisions or consult your Financial advisor before taking any trading or investment decisions.
