NIFTY continued its bull run last week as well and closed strongly at all time high of 14347. US & European markets closed positively on Friday, Asian markets are trading positively, US & European Futures are down by 0.5%. SGX NIFTY indicating gap up opening by 70 to 80 points.
F&O Data Analysis (14th Jan series): Highest OI is at 14500 & 14800 CALLs and 14200 & 14000 PUTs. Highest OI addition is at 14350 & 14800 CALLs and 14200 & 14300 PUTs. There was huge PUT writing on Friday and as a result of that PCR is raised to 1.29 from 0.8 and Maxpain is also up by 100 points and now at 14300. Looking at F&O data as on today market participants are expecting NIFTY to close between 14000 and 14800 on 14th Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14250, 14040 and 13775. Resistance: 14550 and 14700. Support & Resistance levels for today based on Hourly charts: Support: 14300, 14200 and 14125; Resistance: 14425, 14475 and 14500;
FIIs bought 6030 crores worth of stocks and DIIs sold 2372 crores worth of stocks in cash market on Friday.
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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.
