NIFTY gone up by another 65 points yesterday and made new All time high. Again it was BANK NIFTY lifted NIFTY up yesterday along with AUTO sector. US markets closed 1% down Yesterday, European markets closed in Green by 0.5%, Asian markets are mostly trading in Red and down by 0.5%. US Futures marginally down. SGX NIFTY is indicating gap down opening by 100 points.
F&O Data Analysis (19th Nov series): Highest OI on CALL side at 13000 & 12900; Highest OI on PUT side is at 12800 & 12900. OI addition is high at 13100 & 13050 on CALL side and at 12900 & 12800 on PUT side. PCR is gone up to 1.41 from 1.11 and Maxpain is up by 100 points and now at 12900. Looking at F&O data as on today market participants are expecting NIFTY to close between 13100 and 12800 for today expiry. However, SGX NIFTY is indicating 100 points gap down, if NIFTY breaks and trade below 12820 then 12800 strike may not hold on downside.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12845, 12820, 12770, 12610 and 12430. Resistance: 12950, 13000 and 13100 Support & Resistance levels for today: Support: 12845, 12820, 12765, 12735 and 12600; Resistance: 12900, 12950, 13000 and 13050; For today expiry 13050 and above on CALL side, 12500 and below on PUT side may be safe bets during market opening. However, in case of any big news these positions need to be managed carefully. There is a possibility of downside risk if NIFTY gives up 12820 SPOT level.
FIIs bought 3072 crores worth of stocks and DIIs sold 2790 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.
