NIFTY witnessed small profit booking yesterday after touching new all time high of 14253 during opening hours of market. US markets closed very strongly, European markets closed positively, Asian markets, US & European futures everything looks firmly positive and its Green everywhere. SGX NIFTY is indicating 75 points gap up opening.
F&O Data Analysis (14th Jan series): Highest OI is at 14200 & 14300 CALLs and 14200 & 14000 PUTs. Highest OI addition is at 14200 & 14400 CALLs and 14200 & 14100 PUTs. PCR is at 0.8 and Maxpain is at 14200. Looking at F&O data as on today market participants are expecting NIFTY to close between 14500 and 14000 on 14th Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14120, 14040, 13950, 13860 and 13775. Resistance: 14320, 14400 and 14500. Support & Resistance levels for today based on Hourly charts: Support: 14200, 14125 and 14040; Resistance: 14220, 14255 and 14320;
FIIs bought 382 crores worth of stocks and DIIs sold 989 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.
