After a spectacular rally in market NIFTY consolidated last week with volatility and this consolidation is likely to continue this week as well as long as NIFTY is not going to break All Tim High level of 13150 decisively. Yesterday was holiday for Indian markets. US and European markets closed negatively but Asian markets are in Green, US futures also trading positively and SGX NIFTY is indicating flat opening. Today we are entering into New Peak Margin reporting rules set by SEBI and keen to watch out what impact it will have on liquidity and volumes.
F&O Data Analysis (3rd Dec series): Highest OI on CALL side at 13000 & 13500; Highest OI on PUT side is at 12900 & 12800. Highest OI addition is at 13100 on CALL side and 12900 on PUT side. PCR is slightly down from 0.96 to 0.83. Maxpain is up by 50 points and now at 12950. Looking at F&O data as on today market participants are expecting NIFTY to close between 13500 and 12800 on 3rd Dec expiry.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12910, 12790, 12730, 12610 and 12430. Resistance: 13150, 13250 and 13400 Support & Resistance levels for today based on Hourly charts: Support: , 12915, 12865 and 12790; Resistance: 13035, 13100, 13150 and 13220;
FIIs bought massive 7713 crores worth of stocks on Friday, DIIs sold 4969 crores worth of stocks in cash market on Friday. With this FIIs infused 65317 crores into Indian Equity cash market in November month, which was highest ever investment by FIIs in any one month so far.
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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.
