As usually NIFTY made another All Time New high of 13549 and closed at 13529. It’s hard to believe that NIFTY closed above 13500 in such a short span of time but that’s what market does and so one should always “Expect the Unexpected” in market. India VIX was up through out the day yesterday and eased in last half an hour. US markets closed negatively, European stocks closed mixed, Asian markets are mostly trading negative and SGX NIFTY indicating a gap down opening by 50 points.
F&O Data Analysis (10th Dec series): Highest OI on CALL side at 13600 & 13700; Highest OI on PUT side is at 13400 & 13500. Highest OI addition is at 13650 & 13700 on CALL side and 13500 & 13400 on PUT side. PCR is up from 1.27 to 1.49 as there was unwinding many CALL options and more PUT options writing. Maxpain is up by 150 points and now at 13450. Looking at F&O data as on today market participants are expecting NIFTY to close between 13400 and 13700 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13435, 13310, 13145 and 12980. Resistance: 13550, 13650 and 13700. Support & Resistance levels for today based on Hourly charts: Support: 13500, 13435, 13375 and 13310; Resistance: 13550, 13600 and 13650; Expected gap down opening in NIFTY is slightly disturbing and may cause volatility in market today. 13700 and above on CALL side and 13200 and below on PUT side may be safe bets to sell at opening. Today may be volatile day and one should cautious manage their positions and stick to Stop Loss in case of big moves in market.
FIIs bought 3564 crores worth of stocks and DIIs sold 2493 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.
