NIFTY continued its Volatility this week as well with big intraday moves yesterday after surprising gap up opening of 70 points. VIX shot up by more than 7%. US and European markets closed strongly yesterday. Asian markets are trading in Green; SGX NIFTY indicating gap up opening of 40 to 50 points.
F&O Data Analysis (8th Oct series): Highest OI on CALL side at 11800; Highest OI on PUT side is at 11000 & 11200. More OI added at 11800 & 11600 CALLs and more OI added at 11500 & 11000 PUTs. PCR has come down from 1.2 to 0.93 which indicates more CALL writing was done yesterday. But Maxpain is up by 100 points and now at 11500.
Technically speaking NIFTY comfortably broke Downward trendline on Daily charts yesterday with gap up opening and then later witnessed selling pressure near key Resistance levels. Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11430, 11300, 11180, 11075 and 10790. Resistance: 11580 and 11620. Support & Resistance levels for today: Support: 11490, 11450, 11430 and 11385; Resistance: 11545, 11580 and 11620.
FIIs bought 237 crores worth of stocks in Cash market yesterday. DIIs sold 471 crores worth of shares.
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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
