NIFTY continued its upward journey yesterday as well with 100 points gap up again. It broke important Resistance level of 11800 during opening itself just like that. However, there was a bit of profit booking in the afternoon session after spectacular rally of 1100 points in 9 trading sessions. This is extremely super fast rally for an Index like NIFTY. NIFTY IT index doubled in 7 months from its March month lows this year.

US & European markets closed positively yesterday. Asian markets are also in Green and SGX NIFTY is indicating 40 to 50 points gap up opening. Today there is an important event RBI Monetary policy decision and hopefully VIX drop at least after this event !!

F&O Data Analysis (15th Oct series): Highest OI on CALL side at 12000 & 11900; Highest OI on PUT side is at 11500 & 11600. More OI added at 12000 & 12200 CALLs and 11800 & 11700 PUTs. PCR is at 1.08; Maxpain is up by 100 points and now at 11800.

Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11790, 11615, 11500 and 11430. Resistance: 11900, 12000, 12150 and 12250. Support & Resistance levels for today: Support: 11850, 11790 and 11760; Resistance: 11905, 11950 and 12000. 

FIIs bought 978 crores worth of stocks in Cash market yesterday. DIIs also bought yesterday but for small quantity of 20 crores worth of shares.

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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