NIFTY continued its downward journey yesterday and lost another 100 points. Global cues are negative across the board. US & European markets closed negatively, Asian markets, US & European futures trading in red and SGX NIFTY indicating gap down opening by 80 points.
F&O Data Analysis (25th Feb series): Highest OI is at 15500 & 15300 CALLs and 15000 & 14500 PUTs. Highest OI addition is at 15300 & 15100 CALLs and 15100 & 14700 PUTs. PCR is at 1.05 and and Maxpain down to 15000. Looking at F&O data as on today market participants are expecting NIFTY to close between 15400 and 14500 by 25th Feb.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 15050, 15975 and 14750. Resistance: 15250, 15350, 15435 and 15500 . Support & Resistance levels for today based on Hourly charts: Support: 15050, 14975 and 14880; Resistance: 15160, 15220 and 15250; Note 14975 is most important support level for NIFTY today.
FIIs bought 903 and DIIs sold 1217 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.
