NIFTY consolidated yesterday with almost 2% gain after immense fall on Friday. Markets rallied across the globe yesterday and now consolidating everywhere. US & European markets closed very strongly yesterday, US futures and Asian markets trading mixed and consolidating. SGX NIFTY is indicating flat opening.
F&O Data Analysis (4th Mar series): Highest OI is at 15000 & 14800 CALLs and 14500 & 14700 PUTs. Highest OI addition is at 15200 & 15300 CALLs and 14700 & 14500 PUTs. PCR is up marginally from 0.58 to 0.65 and no change in Maxpain, it is at 14800. Looking at F&O data as on today market participants are expecting NIFTY to close between 15200 and 14500 by 4th March.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14635, 14550, 14465 and 14330. Resistance: 14810, 14920 and 15000 . Support & Resistance levels for today based on Hourly charts: Support: 14750, 14635, 14550 and 14470; Resistance: 14810, 14920 and 15000;
FIIs bought 125 and DIIs sold 195 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.
