Yesterday NIFTY opened slightly above Friday close but with intraday volatility of 180 points. All the markets across the globe looking green today. US and European markets closed positively yesterday ahead of US presidential elections today. Asian markets are in Green, US futures trading in Green and SGX NIFTY indicating gap up opening by 80 to 100 points.
F&O Data Analysis (5th Nov series): Highest OI on CALL side at 12000 & 11900; Highest OI on PUT side is at 11500 & 11300. More OI added at 12200 & 12300 strikes on CALL side and at 11300 & 11500 strikes on PUT side. PCR is increased from 0.9 to 0.97 and Maxpain is up by 50 points and now at 11700. This is because NIFTY turned bullish afternoon session yesterday. Looking at F&O data as on today market participants are expecting NIFTY to close between 12000 and 11500 by 5th Nov, but US election verdict may push both these levels as it is major global event.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11590, 11535, 11430 and 11300. Resistance: 11755, 11875, 11975 and 12025. Support & Resistance levels for today: Support: 11700, 11650, 11565 and 11535; Resistance: 11755, 11815 and 11875;
FIIs turned buyers after 3 days of selling and bought 740 crores worth of stocks and DIIs turned sellers and sold 534 crores worth of shares in cash market on Friday. Markets are likely to very volatile because of US presidential elections, so it is better to not to take or don’t carry any positional trades today.
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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.
