NIFTY consolidated yesterday in 150 points range and closed 14595. Consolidation is continuing in Global markets. US markets closed slightly negative, European markets closed positively, Asian markets are slightly positive, US & European futures are trading marginally negative, SGX NIFTY is indicating 30 to 40 points gap down opening.
F&O Data Analysis (21st Jan series): Highest OI is at 15000 & 14600 CALLs and 14500 & 14000 PUTs. Highest OI addition is at 14800 & 15000 CALLs and 14500 & 14000 PUTs. PCR is at 1.08 from 1.46 and no change in Maxpain and it is at 14500. Looking at F&O data as on today market participants are expecting NIFTY to close between 14000 and 15000 by 21st Jan.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14430, 14250, 14040 and 13775. Resistance: 14655, 14735 and 14800. Support & Resistance levels for today based on Hourly charts: Support: 14550, 14470, 14430 and 14380; Resistance: 14620, 14655, 14700 and 14735;
FIIs bought 1076 crores worth of stocks and DIIs sold 188 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.
