NIFTY traded with great strength yesterday and posted yet another all time high of 14590. SENSEX is just 500 points away to hit 50K milestone. US markets closed flat yesterday, European markets were marginally down, US & European futures are consolidating now, Asian markets are mostly positive and looks like markets across the globe consolidating today. SGX NIFTY is indicating flat opening today.
F&O Data Analysis (14th Jan series): Highest OI is at 14800 & 14700 CALLs and 14000 & 14200 PUTs. Highest OI addition is at 14700 & 14600 CALLs and 14500 & 14600 PUTs. PCR is marginally down to 1.46 from 1.52 and Maxpain is up by 100 points and now at 14500. Looking at F&O data as on today market participants are expecting NIFTY to close between 14200 and 14800 on 14th Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14430, 14250, 14040 and 13775. Resistance: 14650, 14700 and 14800. Support & Resistance levels for today based on Hourly charts: Support: 14500, 14430 and 14380; Resistance: 14650 and 14700;
FIIs bought 571 crores worth of stocks and DIIs sold 1334 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.
