NIFTY made another new all time high of 14498 yesterday and closed strongly with amazing rally in IT stocks. US markets closely marginally down, European markets closed by a percent lower, US & European futures, Asian markets consolidating and trading mixed. SGX NIFTY is indicating flat to 20 points gap down opening.
F&O Data Analysis (14th Jan series): Highest OI is at 14800 & 14500 CALLs and 14200 & 14000 PUTs. Highest OI addition is at 14800 & 14700 CALLs and 14400 & 14450 PUTs. There was huge PUT writing yesterday as well at 14400 strike, as a result of that PCR is raised to 1.52 from 1.29 and Maxpain is also up by 100 points and now at 14400. Looking at F&O data as on today market participants are expecting NIFTY to close between 14000 and 14800 on 14th Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14380, 14250, 14040 and 13775. Resistance: 14600 and 14700. Support & Resistance levels for today based on Hourly charts: Support: 14445, 14380 and 14300; Resistance: 14550 and 14600;
FIIs bought 3189 crores worth of stocks and DIIs sold 2610 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.
