NIFTY continued its extraordinary bullish move yesterday as well and made another all time high. US DOW JONES closed a percent higher, European markets closed strongly, Asian markets are mostly trading in Green and SGX NIFTY indicating gap up opening by 60 points.
F&O Data Analysis (12th Nov series): Highest OI on CALL side at 13000; Highest OI on PUT side is at 12000 & 12500. OI addition is high at 12900 on CALL side and at 12500 & 12600 on PUT side. Marginal raise in PCR to 1.64 from 1.6. Maxpain is up by another 200 points and now at 12500. Looking at F&O data as on today market participants are expecting NIFTY to close between 12900 and 12300 by 12th November.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12570, 12430, 12280 and 12025. Resistance: 12725 and 12900. Support & Resistance levels for today: Support: 12645, 12570, 12520, 12475 and 12430; Resistance: 12725, 12800 and 12900; I think NIFTY will top out between 12725 and 12750 today.
FIIs bought huge quantity of 5627 crores worth of stocks and DIIs sold 2309 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.
