NIFTY was very volatile yesterday with W shape intraday recovering and traded in the range of 150 points. All the major Global markets consolidated yesterday. Asian markets and US futures in Green marginally. SGX NIFTY indicating gap up opening by 30 to 40 points.
F&O Data Analysis (3rd Dec series): Highest OI on CALL side at 13500 & 13200; Highest OI on PUT side is at 13000 & 12800. Highest OI addition is at 13200 & 13250 on CALL side and 12850 & 13000 on PUT side. PCR is marginally down from 1.16 to 1.05. Maxpain is up by 50 points and now at 13050. Looking at F&O data as on today market participants are expecting NIFTY to close between 13250 and 12800 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13035, 12960, 12790 and 12730. Resistance: 13150, 13260 and 13400 Support & Resistance levels for today based on Hourly charts: Support: 13100, 13040, 12985 and 12920; Resistance: 13150, 13200, 13260 and 13300; As my margin funding account is not activated yet, i can only trade with 4x leverage so i may not trade expiry from opening today. CALL options at 13350 and above, PUT options at 12850 and below may be safe ones to sell at opening. But any big movements in NIFTY these strikes need to be managed carefully with adjustments or Stop Loss.
FIIs bought 357 crores worth of stocks and DIIs sold 1636 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.
