Pre-Market Analysis for 17 Mar 21

NIFTY continued its volatility yesterday as well with spikes in price during intraday and finally closed slightly low. Global cues are subdued with slight negative bias. US markets closed flat, European markets closed positively, Asian markets, US & European futures are consolidating with slight negative bias. SGX NIFTY indicating flat to 30 points gap up opening.

F&O Data Analysis (18th Mar series): Highest OI is at 15200 & 15300 CALLs and 14500 & 15000 PUTs. Highest OI addition is at 15000 & 15100 CALLs and 14900 & 15000 PUTs. PCR is marginally down from 0.5 to 0.47 and no change in Maxpain and now at 15000. Looking at F&O data today participants are expecting NIFTY to close between 14500 and 15300 by 18th March.

Technically speakingSupport & Resistance levels for Positional Traders based on Daily Charts: Support: 14890, 14745 and 14460 . Resistance: 15050, 15150, 15340 and 15435 . Support & Resistance levels for today based on Hourly chartsSupport: 14890, 14840 and 14750; Resistance: 14970, 15060, 15100 and 15150; 

FIIs bought 1692 and DIIs sold 1168 crores worth of stocks respectively 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.

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