NIFTY made another new All Time High by rallying another 100+ points and closed at 11750. With this NIFTY rallied 1200 points just in 8 trading sessions. This is sharpest raise for NIFTY. US Dow Jones closed flat but NASDAQ (dominated by Tech stocks) closed 2% higher; US futures now trading marginally in Red; European markets closed in Green yesterday; Asian markets trading mixed. SGX NIFTY indicating 50 points gap down opening.
F&O Data Analysis (12th Nov series): Highest OI on CALL side at 13000 & 12800; Highest OI on PUT side is at 12000 & 12600. OI addition is high at 13000 & 12900 on CALL side and at 12700 & 12600 on PUT side. Marginal drop in PCR to 1.54 from 1.64. Maxpain is up by another 150 points and now at 12650. Looking at F&O data as on today market participants are expecting NIFTY to close between 12900 and 12600 for today. However, this range may change in case of any big moves in NIFTY. 12950 and above on CALL side and 12400 and below on PUT side may be safe strikes for today expiry. However, as always one should be able to manage the positions or take STOPLOSS in case of any wild moves in index.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12570, 12430, 12280 and 12025. Resistance: 12770 and 12900. Support & Resistance levels for today: Support: 12670, 12625, 12570, 12520 and 12475; Resistance: 12770, 12850 and 12900;
FIIs bought huge quantity of 6207 crores worth of stocks and DIIs sold 3464 crores worth of stocks in cash market yesterday.
Follow my TRADES at:
Telegram: https://t.me/WealthyOptions
Twitter: https://twitter.com/wealthyoptions1
Performance: https://www.wealthyoptions.in/performance
Training: https://www.wealthyoptions.in/training
Testimonials: https://www.wealthyoptions.in/testimonials
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.
