NIFTY was on roller coaster ride yesterday with huge volatility throughout the day. At the end of day it closed flat. US markets closed flat, European markets closed negative by half a percentage. US & European futures are consolidating, Asian markets are trading mixed but with positive bias marginally. SGX NIFTY is indicating about 60 points gap down opening.
F&O Data Analysis (11th Feb series): Highest OI is at 15200 & 15300 CALLs and 15000 & 14800 PUTs. Highest OI addition is at 15100 & 15200 CALLs and 14900 & 14800 PUTs. PCR is dropped to 0.87 from 1.11 and Maxpain is down by 50 points and now at 15050. Looking at F&O data as on today market participants are expecting NIFTY to close between 15300 and 14800 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14975, 14870 and 14750. Resistance: 15170, 15260, 15350 and 15500 . Support & Resistance levels for today based on Hourly charts: Support: 15030, 14975, 14870, 14830 and 14750; Resistance: 15145-15170, 15220, 15260, 15300 and 15350; Note 14975 and 14870 are most important support levels, and 15170 and 15260 are most important Resistance levels for NIFTY today. For today expiry CALL strikes at 15300 and above, PUT strikes at 14600 and below may be safe ones to sell at market opening. As always, expiry should be traded very cautiously due to Gamma risk and should be in a position to manage their positions through adjustments very quickly in case of big moves in underlying.
FIIs bought 1787 and DIIs sold 2075 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.
