NIFTY daily chart shows how volatile market was last week, however good news is NIFTY fall sharply after breaking down 11300, fall was stopped at 11185 and then NIFTY moved up by 300 points.

US and European markets closed flat on Friday. Asian markets and US Futures are looking strong as a result of that SGX NIFTY indicating gap up opening by 40 to 50 points.

F&O Data Analysis (17th Sep series): Highest OI on CALL side at 11500 & 12000 levels; Highest OI on PUT side is at 11400 & 11300. No change in Maxpain and minor change in PCR from 1.15 to 1.

Important Support & Resistance levels for NIFTY based on Daily charts for positional: Support: 11450, 11300, 11185 and 11100. Resistance: 11585, 11700 and 11800. For today, 11450 and 11420 are important Support levels and 11585 important Resistance level. BANK NIFTY need to trade above 22700 to move up.

FIIs bought in Cash markets and DIIs continued as net sellers.

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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.