NIFTY gained close to 1% yesterday with a booster from RBI Monitory policy decision of infusing more liquidity into system to support the growth of economy and also rates are kept unchanged. Global cues are positive overall and SGX NIFTY indicating around 60 points gap up opening.
F&O Data Analysis (8th Apr series): Highest OI is at 15000 & 14900 CALLs and 14500 & 14700 PUTs. Highest OI addition is at 15100 & 15200 CALLs and 14700 & 14800 PUTs. PCR is up from 0.74 to 0.99 and Maxpain also up from 14700 to 14800. Looking at F&O data today market participants are expecting NIFTY to close between 14500 and 15100 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14800, 14650 and 14450. Resistance: 14950, 15100 and 15250. Support & Resistance levels for today based on Hourly charts: Support: 14825, 14800, 14775, 14700 and 14650; Resistance: 14900, 14950, 15000 and 15100;
Both FIIs and DIIs bought for 227 and 381 crores worth of stocks respectively 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.
