It has become usual for markets to make new All Time High every day and yesterday was not exception either, yes NIFTY made of 13366 and closed at 13355. FIIs have been buying in huge volume for the past 2 months and DIIs have been been selling for the past 2 months continuously but this bull run shows power of liquidity infused by FIIs and NIFTY shot up more than 20% in last 2.5 months. Markets consolidated across the globe yesterday, Asian markets are now trading mixed but mostly with negative bias marginally and SGX NIFTY indicating 20 to 30 points gap up opening.
F&O Data Analysis (10th Dec series): Highest OI on CALL side at 13500 & 13600; Highest OI on PUT side is at 13200 & 13000. Highest OI addition is at 13600 & 13400 on CALL side and 13300 & 13200 on PUT side. PCR is up from 1.2 to 1.4 and Maxpain is up by 100 points and now at 13300. Looking at F&O data as on today market participants are expecting NIFTY to close between 13000 and 13600 by 10th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13300, 13240, 13145 and 12980. Resistance: 13410 and 13500 Support & Resistance levels for today based on Hourly charts: Support: 13300, 13290, 13245 and 13195; Resistance: 13410, 13450 and 13500;
FIIs bought 3792 crores worth of stocks and DIIs sold 2767 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.
