NIFTY consolidated yesterday (but with wild intraday moves) after heavy storm on Monday. It was same across the globe as well. US markets closed slightly negative, European markets closed positively, Asian markets trading mixed and consolidating, US & European futures markets trading negative bias and SGX NIFTY is indicating about 40 points gap down opening.
F&O Data Analysis (24th Dec series): Highest OI is at 14000 & 13800 CALLs and 13000 & 13300 PUTs. Highest OI addition yesterday was surprisingly at 13250 & 13300 CALLs and 13300 & 13000 PUTs. PCR is raised to 0.71 from 0.53 as there was some PUT writing and Maxpain is down by another 150 points and now at 13450. Looking at F&O data as on today market participants are expecting NIFTY to close between 13800 and 13000 by 24th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13250, 13130, 13000 and 12790. Resistance: 13500, 13600 and 13780. Support & Resistance levels for today based on Hourly charts: Support: 13350, 13250, 13130 and 13000; Resistance: 13500, 13600 and 13650;
FIIs bought 1153 crores worth of stocks and DIIs sold 661 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.
