Yesterday NIFTY tested new all time high of 13215 at the opening of the market but couldn’t sustain at that level but did not fall much as well. All major Markets across the world consolidated yesterday. US Futures trading flat, Asian markets trading mixed and SGX NIFTY indicating gap up opening by about 50 points.
F&O Data Analysis (10th Dec series): Highest OI on CALL side at 13500 & 13200; Highest OI on PUT side is at 13100 & 13000. Highest OI addition is at 13200 & 13500 on CALL side and 13100 & 13000 on PUT side. PCR is 1.08 and Maxpain is up by 50 points and now at 13100. Looking at F&O data as on today market participants are expecting NIFTY to close between 13000 and 13500 by 10th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13145, 12980, 12790 and 12730. Resistance: 13215, 13300 and 13400 Support & Resistance levels for today based on Hourly charts: Support: 13130, 13110, 13050 and 12980; Resistance: 13165, 13215, 13270 and 13300;
FIIs bought 3637 crores worth of stocks and DIIs sold 1440 crores worth of stocks in cash market yesterday. Today RBI monetary policy decision and there may not be any changes to Repo or Reverse Repo rates.
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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.
