Correction continued for another day in NIFTY and fell down by another 200 points and closed at 14281. US markets closed yesterday, European markets closed flat, US & European futures trading positively, Asian markets trading strongly, SGX NIFTY is indicating 90 points gap up opening.
F&O Data Analysis (21st Jan series): Highest OI is at 14600 & 15000 CALLs and 14000 & 13800 PUTs. Highest OI addition is at 14400 & 14300 CALLs and 14000 & 14100 PUTs. PCR is marginally down to 0.59 from 0.62. Maxpain is down by 150 points and it is at 14350. Looking at F&O data as on today market participants are expecting NIFTY to close between 13800 and 14600 by 21st Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14220, 14120, 14000 and 13775. Resistance: 14460, 14560 and 14655. Support & Resistance levels for today based on Hourly charts: Support: 14290, 14220 and 14120; Resistance: 14405, 14460 and 14545;
FIIs bought 650 crores worth of stocks and DIIs sold 42 crores worth of stocks in cash market yesterday.
Follow my TRADES at:
Telegram: https://t.me/WealthyOptions
Twitter: https://twitter.com/wealthyoptions1
Performance: https://www.wealthyoptions.in/performance
Training: https://www.wealthyoptions.in/training
Testimonials: https://www.wealthyoptions.in/testimonials
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.
