NIFTY caught into fear of raising Corona cases and fell about 2% yesterday. Global cues are mixed but slightly positive overall. SGX NIFTY is indicating flat opening.
F&O Data Analysis (8th Apr series): Highest OI is at 15000 & 14800 CALLs and 14500 & 14400 PUTs. Highest OI addition is at 14800 & 15000 CALLs and 14500 & 14300 PUTs. PCR is down from 0.83 to 0.63 and Maxpain also fell from 14800 to 14650. Looking at F&O data today market participants are expecting NIFTY to close between 14400 and 15000 on 8th April.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14600 and 14450 . Resistance: 14850 and 15000. Support & Resistance levels for today based on Hourly charts: Support: 14600, 14500 and 14450; Resistance: 14700, 14750 and 14850;
FIIs sold 931 and DIIs bought 75 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.
