NIFTY reacted to election results and growing Covid19 cases over weekend during opening however recovered in the second half. It was a day of steady recovery. Global cues are mixed and mostly flat. SGX NIFTY indicating 30 points gap up opening.
F&O Data Analysis (6th May series): Highest OI is at 15000 & 14800 CALLs and 14500 & 14200 PUTs. Highest OI addition is at 15000 & 14800 CALLs and 14200 & 14500 PUTs. PCR is at 0.78 and Maxpain is at 14650. Looking at F&O data today market participants are expecting NIFTY to close between 14200 and 15000 by 6th May.
FIIs sold 2289 and DIIs bought 553 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 is possible that my analysis may go wrong. So, take your own decisions or consult your Financial advisor before taking any trading or investment decisions.
