NIFTY made another new All Time High of 13597 and finally closed at 13558 which is also All Time High on closing basis. NIFTY continued its intraday volatility yesterday as well and VIX shot up by 3.5%. US markets closed negatively, European markets slightly positive, Asian markets are trading negative, US Futures looks flat and SGX NIFTY is indicating NIFTY will open 40 to 50 gap down.
F&O Data Analysis (17th Dec series): Highest OI on CALL side at 13600 & 14000; Highest OI on PUT side is at 13000 & 13500. Highest OI addition is at 13600 & 13900 on CALL side and 13500 & 13400 on PUT side. No change in PCR and Maxpain and they are at 0.89 and 13500. Looking at F&O data as on today market participants are expecting NIFTY to close between 13000 and 13900 by 17th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13470, 13400, 13310, 13145 and 12980. Resistance: 13635, 13700 and 13800. Support & Resistance levels for today based on Hourly charts: Support: 13520, 13470, 13400 and 13310; Resistance: 13565, 13600 and 13635;
FIIs bought 2264 crores worth of stocks and DIIs sold 1721 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.
