Now a days it has become a daily routine for NIFTY to make new highs everyday due to highest ever flow of FII funding into Indian equity markets. Yes, NIFTY made another new all time high of 13079 yesterday and that’s not all and today is going to be another new all time high. Global markets rallied across the globe. All the Asian markets trading in Green. SGX NIFTY indicating a gap up opening by 60 to 80 points.
F&O Data Analysis (26th Nov series): Highest OI on CALL side at 13000 & 13200; Highest OI on PUT side is at 12800 & 13000. OI addition is high at 13300 on CALL side and at 13000 & 12900. PUT options writers are rolling up their position and CALL option writers are unwinding their positions and moving their strikes further up to be safe. As a result of thig big change in PCR from 1.31 to 1.61. Maxpain is up by 100 points and now at 12900. Looking at F&O data as on today market participants are expecting NIFTY to close between 13300 and 12800 for November monthly expiry.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12970, 12730, 12610 and 12430. Resistance: 13185 and 13300 Support & Resistance levels for today based on Hourly charts: Support: 13080, 13050 and 12970; Resistance: 13130, 13185 and 13250;
FIIs bought 4563 crores worth of stocks and DIIs sold 2522 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.
