NIFTY continued its unstoppable bull run last week as well. Last week NIFTY rallied for 520 points and 1150 points in two weeks. NIFTY never rallied like this in the past. US & European markets closed positively on Friday. Asian markets are trading in green and SGX NIFTY indicating a gap up opening by 40 to 50 points.
F&O Data Analysis (15th Oct series): Highest OI on CALL side is shifted to 12300 & 12200 from 12000 & 11900 levels; Highest OI on PUT side is at 11700 & 11500. More OI added at 12300 & 12100 CALLs and 11900 & 11700 PUTs. PCR is up from 1.08 to 1.25; Maxpain is up by 50 points and now at 11850.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11790, 11615 and 11500. Resistance: 12000, 12150 and 12250. Support & Resistance levels for today: Support: 11935, 11890, 11850 and 11790; Resistance: 11970, 12000. 12050;
After buying continuously for 5 days FIIs sold very tiny 40 crores worth of stocks in Cash market on Friday. DIIs bought but small quantity of 126 crores worth of shares.
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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
