Pre-Market Analysis for 01 Jan 21

Welcome to New Year 2021. NIFTY made another new all time high and hit 14000 milestone for the first time. What an year this has been, 12430 high to 7511 low and then to end year with all time high of 14025. Unbelievable fall followed by unbelievable rally, that’s why always expect the unexpected in the market. US markets closed positively, European markets closed negatively, Most of the global markets are closed today and SGX NIFTY indicating flat opening.

F&O Data Analysis (7th Jan series): Highest OI is at 14000 & 14200 CALLs and 13900 & 14000 PUTs. Highest OI addition is at 14000 & 14400 CALLs and 14000 & 13900 PUTs. PCR is at 1.05 and Maxpain is at 14000. Looking at F&O data as on today market participants are expecting NIFTY to close between 14400 and 13800 on 7th Jan.

Technically speakingSupport & Resistance levels for Positional Traders based on Daily Charts: Support: 13915, 13860, 13775 and 13500. Resistance: 14130 and 14200. Support & Resistance levels for today based on Hourly chartsSupport: 13940, 13900, 13860, 13810 and 13775; Resistance: 14075 and 14135;  

FIIs bought 1135 crores worth of stocks and DIIs sold 257 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.

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