NIFTY rallied 1% yesterday following global clues and closed at 13109. In fact it was All Time High on Closing basis. US and European markets closed strongly yesterday, Asian markets trading mixed but mostly flat, US & European futures trading in red marginally. SGX NIFTY is indicating flat to 20 points gap up opening.
F&O Data Analysis (3rd Dec series): Highest OI on CALL side at 13500 & 13100; Highest OI on PUT side is at 13000 & 12900. Highest OI addition is at 13400 on CALL side and 13000 on PUT side. PCR is up from 0.83 to 1.16 as more PUTs sold yesterday. Maxpain is also up by 50 points and now at 13000. Looking at F&O data as on today market participants are expecting NIFTY to close between 13500 and 12900 on 3rd Dec expiry.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13035, 12920, 12790 and 12730. Resistance: 13150, 13260 and 13400 Support & Resistance levels for today based on Hourly charts: Support: 13055, 13035, 12965 and 12920; Resistance: 13150, 13200 and 13260;
FIIs bought 3242 crores worth of stocks and DIIs sold 1043 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.
