As usually NIFTY made another All Time High of 13773 yesterday and also closed at all time high level of 13740. This has been silent but spectacular rally of another 1000 points from 12790 in 3 weeks time. US markets closed in Green, European markets closed mixed, Asian markets are trading flat and consolidating, US Futures are trading in slight negative territory. SGX NIFTY indicating flat opening.
F&O Data Analysis (24th Dec series): Highest OI is at 14000 & 13800 CALLs and 13500 & 13700 PUTs. Highest OI addition yesterday was at 14000 & 13800 CALLs and 13700 & 13500 PUTs. PCR is at 1.24 and Maxpain up by 100 points and now at 13700. Looking at F&O data as on today market participants are expecting NIFTY to close between 14000 and 13500 by 24th Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13670, 13590, 13445 and 13400. Resistance: 13880 and 14000. Support & Resistance levels for today based on Hourly charts: Support: 13720, 13675 and 13590; Resistance: 13775, 13830 and 13880;
FIIs bought 2355 crores worth of stocks and DIIs sold 2494 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.
