NIFTY danced yesterday with big gap down, wild and volatile moves and finally closed 1% lower. VIX shot up by 11%. Global cues are negative. US & European markets closed negatively yesterday and their futures are trading now in red too. Most of the Asian markets are in red and SGX NIFTY indicating around 100 to 130 points gap down opening.
F&O Data Analysis (10th Mar series): Highest OI is at 15500 & 15200 CALLs and 15000 & 14500 PUTs. Highest OI addition is at 15500 & 15200 CALLs and 15000 & 15100 PUTs. PCR is 0.78 and Maxpain is at 15100. Looking at F&O data as on today market participants are expecting NIFTY to close between 15500 and 14500 by 10th March.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14980, 14920, 14750 and 14540. Resistance: 15200, 15275 and 15435 . Support & Resistance levels for today based on Hourly charts: Support: 14980, 14920, 14860, 14760; Resistance: 15060, 15150, 15200 and 15275;
Both FIIs and DIIs sold for 223 and 788 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.
