NIFTY continued consolidation yesterday and closed marginally up with huge support from RELIANCE. All the Global markets are in consolidation mode, US & European markets closed flat, Most of the Asian markets are closed, US & European futures are consolidating with slight negative bias and SGX NIFTY is indicating 30 points gap down opening.
F&O Data Analysis (18th Feb series): Highest OI is at 15500 & 15200 CALLs and 15100 & 15000 PUTs. Highest OI addition is also at 15500 & 15200 CALLs and 15100 & 15000 PUTs. PCR is increased to 1.07 from 0.87 and Maxpain is also up by 50 points and now at 15100. Looking at F&O data as on today market participants are expecting NIFTY to close between 15500 and 15000 by 18th Feb.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14975, 14870 and 14750. Resistance: 15260, 15350 and 15500 . Support & Resistance levels for today based on Hourly charts: Support: 15150, 15100, 15065 and 14975; Resistance: 15200, 15260 and 15300;
FIIs bought 944 and DIIs sold 707 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.
