Yesterday NIFTY started off with volatility followed by uptrending day and hit new all time high of 14215 as usual. US markets closed positively, European markets closed mixed, Asian markets are trading mixed and mostly flat, US & European futures are down slightly, SGX NIFTY indicating flat opening.

F&O Data Analysis (7th Jan series): Highest OI is at 14500 & 14200 CALLs and 14000 & 14100 PUTs. Highest OI addition is at 14500 & 14300 CALLs and 14100 & 14200 PUTs. PCR is raised to 1.28 from 1.1 and Maxpain is up by 50 points and now at 14100. Looking at F&O data as on today market participants are expecting NIFTY to close between 14500 and 14000 on 7th Jan.

Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14050, 13950, 13860 and 13775. Resistance: 14300, 14400 and 14500. Support & Resistance levels for today based on Hourly charts: Support: 14150, 14100, 14050, 14000 and 13950; Resistance: 14215, 14270 and 14310;  

FIIs bought 986 crores worth of stocks and DIIs sold 490 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.