NIFTY was very volatile yesterday and moved in the range of 200 points. VIX is increased as a result of this. US markets fell down yesterday due to profit booking before two senate seats elections today in Georgia. European markets closed positively, Asian markets are trading mixed, US & European futures are consolidating and SGX NIFTY is indicating gap down opening by 80 points.
F&O Data Analysis (7th Jan series): Highest OI is at 14200 & 14500 CALLs and 14000 & 13900 PUTs. Highest OI addition is at 14500 & 14400 CALLs and 14100 & 14000 PUTs. PCR is raised to 1.1 from 0.94 and Maxpain is up by 50 points and now at 14050. Looking at F&O data as on today market participants are expecting NIFTY to close between 14500 and 13900 on 7th Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14050, 13950, 13860 and 13775. Resistance: 14200 and 14300. Support & Resistance levels for today based on Hourly charts: Support: 14050, 14000, 13950, 13900 and 13860; Resistance: 14150 and 14200;
FIIs bought 1843 crores worth of stocks and DIIs sold 715 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.
