NIFTY continued its recovery by going up another 1%. It was a volatile day yesterday. Global cues are positive. US markets closed negative, European markets closed marginally in Green, US & European futures are trading positively, all the Asian markets in Green and SGX NIFTY indicating gap up opening by 60 to 80 points.
F&O Data Analysis (4th Mar series): Highest OI is at 15000 & 15200 CALLs and 14800 & 14500 PUTs. Highest OI addition is at 15000 & 15100 CALLs and 14800 & 14900 PUTs. PCR is up marginally from 0.65 to 0.69 and no change in Maxpain, it is at 14800. Looking at F&O data as on today market participants are expecting NIFTY to close between 15200 and 14500 by 4th March.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14750, 14600 and 14465. Resistance: 15065, 15180 and 15435 . Support & Resistance levels for today based on Hourly charts: Support: 14750, 14635, 14550 and 14470; Resistance: 15035 – 15065 and 15175;
FIIs bought 2052 and DIIs sold 854 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.
