NIFTY consolidated yesterday with volatility during intraday. Global cues are mixed. US indices traded mixed and tech dominant NASDAQ fell more than 2%, European markets closed very strongly, Asian markets are trading mixed, US & European futures trading positively and SGX NIFTY indicating gap up opening by 100 points.
F&O Data Analysis (10th Mar series): Highest OI is at 15500 & 15100 CALLs and 14500 & 15000 PUTs. Highest OI addition is at 15100 & 15200 CALLs and 14400 & 14600 PUTs. No changed in PCR and Maxpain and they are at 0.65 and 15000 respectively. Looking at F&O data as on today market participants are expecting NIFTY to close between 15500 and 14500 by 10th March.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14975, 14860, 14740 and 14500. Resistance: 15110, 15225-15275 and 15435 . Support & Resistance levels for today based on Hourly charts: Support: 14975, 14920, 14860, 14740; Resistance: 15050, 15110, 15225 and 15275;
FIIs sold 1495 and DIIs bought 483 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.
