NIFTY throwed one of the most volatile day to traders yesterday with wild moves and closed negative. Global cues are mixed. US markets closed flat, European markets closed slightly negative, Asian markets are trading mixed, US & European futures are consolidating and SGX NIFTY is indicating marginal gap up opening by about 30 to 40 points.
F&O Data Analysis (18th Feb series): Highest OI is at 15300 & 15400 CALLs and 15000 & 15200 PUTs. Highest OI addition is at 15300 & 15300 CALLs and 15000 & 15200 PUTs. There was huge CALL writing yesterday, as a result of that PCR has come down to 0.72 from 0.87 and Maxpain is also down by 100 points and now at 15200. Looking at F&O data as on today market participants are expecting NIFTY to close between 15000 and 15400 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 15060, 15975 and 14865. Resistance: 15315, 15435 and 15500 . Support & Resistance levels for today based on Hourly charts: Support: 15170, 15110, 15080 and 15050; Resistance: 15245, 15315, 15370 and 15432;
Note 15110 and 15050 are most important support levels and 15250 and 15315 are most important Resistance levels for NIFTY today. For today expiry CALL strikes at 15500 and above, PUT strikes at 14850 and below may be safe ones to sell at market opening. As always, expiry should be traded very cautiously due to Gamma risk and should be in a position to manage their positions through adjustments very quickly in case of big moves in underlying.
FIIs bought 1008 and DIIs sold 1238 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.
