NIFTY was on roller coaster ride with huge volatility right from opening and through out the day and finally closed marginally higher. Global cues are flat to marginally negative. SGX NIFTY is indicating flat opening. Today RBI event of Monitory policy decision at 10 am.
F&O Data Analysis (8th Apr series): Highest OI is at 15000 & 14800 CALLs and 14500 & 14400 PUTs. Highest OI addition is at 15000 & 14800 CALLs and 14500 & 14600 PUTs. PCR is slightly up from 0.63 to 0.74 and Maxpain also up from 14650 to 14700. Looking at F&O data today market participants are expecting NIFTY to close between 14400 and 15000 on 8th April.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14570, 14450 and 14260. Resistance: 14780, 14830, 14900 and 15000. Support & Resistance levels for today based on Hourly charts: Support: 14640, 14600, 14570, 14500 and 14450; Resistance: 14780, 14830 and 14900;
FIIs sold 1092 and DIIs bought 416 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.
