It was a day of downtrend but with wild 100 points swings in the morning session. NIFTY lost 200 points yday. Global cues are positive as Fed kept US Interest rates unchanged. US markets closed positively, European markets closed mixed, Asian markets are trading positively, US & European futures are consolidating with positive bias and SGX NIFTY indicating a gap up opening of 200 points.
F&O Data Analysis (18th Mar series): Highest OI is at 150200 & 15200 CALLs and 14500 & 14800 PUTs. Highest OI addition is at 14800 & 14900 CALLs and 14450 & 14400 PUTs. PCR is marginally down from 0.47 to 0.42 and Maxpain is down by 200 points and now at 14800. Looking at F&O data today participants are expecting NIFTY to close between 14700 and 15200 today.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14700 and 14460 . Resistance: 14960, 15050 and 15150 . Support & Resistance levels for today based on Hourly charts: Support: 14840, 14800, 14725 and 14690; Resistance: 14960, 15050, 15100 and 15150;
FIIs bought 2625 (includes 4000 crs Block deal) and DIIs sold 562 crores worth of stocks respectively 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.
