NIFTY and BANKNIFTY broke out of last week consolidation and started trending up again. Global cues are very positive across the board. US markets closed yesterday, European markets closed strongly, Asian markets are trading firm in green, US & European futures trading positively and SGX NIFTY indicating flat opening with positive bias.
F&O Data Analysis (18th Feb series): Highest OI is at 15500 & 15700 CALLs and 15200 & 15000 PUTs. Highest OI addition is at 15600 & 15700 CALLs and 15200 & 15300 PUTs. There was huge short covering in CALLs as a result of that PCR is shot upto 1.33 from 0.91 and Maxpain is also up by 150 points and now at 15250. Looking at F&O data as on today market participants are expecting NIFTY to close between 15000 and 15700 by 18th Feb.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 15250, 15080 and 15000. Resistance: 15390 and 15500 . Support & Resistance levels for today based on Hourly charts: Support: 15300, 15250 and 15190; Resistance: 15390 and 15450;
FIIs bought 1234 and DIIs sold 1048 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.
