NIFTY has been volatile yesterday at key Resistance levels, moved 70 to 90 points up and down and finally closed flat. Good news is India VIX fell down by around 2% after 7 trading sessions which helped Option writers to mint money on sold CALL and PUT options. US & European markets closed 0.5% lower, Asian markets are trading red by around 0.5% down and SGX NIFTY is indicating 40 to 50 points gap down opening.
F&O Data Analysis (15th Oct series): Highest OI on CALL side is standing at same 12000 level; Highest OI on PUT side also shifted down to 11800 and 11600. More OI added at 12250 CALLs and 11900 PUTs. PCR is flat at 0.96 which indicates options writers sold both CALLs and PUTs equally; No change in Maxpain and it is at 11900.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11865, 11790, 11615 and 11500. Resistance: 12025, 12150 and 12250. Support & Resistance levels for today: Support: 11890, 11865 and 11790; Resistance: 11960, 11990 and 12022;
FIIs bought 832 crores worth of stocks and DIIs sold 1674 crores worth of stocks in Cash market yesterday.
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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.
