NIFTY was very volatile yesterday. It was down by 110 points from Thursday in the morning session but recovered all its losses and in fact broke Wednesday high as well by rallying 175 points in the afternoon session. This move came from nowhere in BANKNIFTY and NIFTY and surprised many market participants. Interest on Interest case verdict for banks was supposed to come yesterday afternoon was postponed to 2nd November. I have closed all my 22nd Oct series positional trades with good profit when NIFTY started moving violently. Sold some 12250 CALLs and 11500 PUTs for today expiry.
Yesterday US markets closed low by 0.5%, European markets closed float, Asian markets are trading in downtrend but SGX NIFTY indicating flat to gap up opening by 20 points.
F&O Data Analysis (15th Oct series): Highest OI on CALL side at 12000 & 12200; Highest OI on PUT side is at 11800 & 11500. More OI added at 12000 & 12100 CALLs and 11900 & 11500 PUTs. PCR is changed from 0.96 to 1.01; No change in Maxpain and it is at 11900.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11800, 11615 and 11500. Resistance: 12025, 12150 and 12250. Support & Resistance levels for today: Support: 11930, 11885, 11820 and 11790; Resistance: 11996, 12022, 12045, 12100, 12150; For today Expiry, looks like 12200 CALLs and 11700 PUTs are good to start selling at opening (but need to manage in case of big moves).
FIIs bought 882 crores worth of stocks and DIIs sold 1276 crores worth of shares in cash market.
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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.
