Though NIFTY did not make All Time High in intraday but closed at all all time high on closing basis. It was a day of huge volatility where NIFTY fell 100 points and then recovered more than 140 points. US markets closed very positively, European markets closed mixed, Asian markets trading positively and SGX NIFTY indicating a gap up opening by 60 to 70 points.
F&O Data Analysis (17th Dec series): Highest OI on CALL side at 13600 & 14000; Highest OI on PUT side is at 13500 & 13400. There is no much OI added to CALLs and Highest OI addition on PUT side at 13400 & 13500. PCR increased to 1.03 from 0.89 and no change in Maxpain which is at 13500. Looking at F&O data as on today market participants are expecting NIFTY to close between 13400 and 13900 by 17th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13445, 13400, 13310, 13145 and 12980. Resistance: 13675, 13750 and 13900. Support & Resistance levels for today based on Hourly charts: Support: 13550, 13515, 134445, 13400 and 13310; Resistance: 13635, 13675 and 13750;
FIIs bought 2484 crores worth of stocks and DIIs sold 2666 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.
