NIFTY was volatile on Friday during morning session and later became rangebound in afternoon session. This sort of consolidation was kind of expected after a big fall on Thursday. US markets closed flat, European markets closed strongly on Friday. Asian markets are trading positively and SGX NIFTY is indicating 60 to 70 points gap up opening.
F&O Data Analysis (22nd Oct series): Highest OI on CALL side at 12000 & 11900; Highest OI on PUT side is at 11700 & 11600. More OI on CALL side added at 11800 and on PUT side at 11700. There is no big change in OI as NIFTY was subdued on Friday. PCR is marginally increased to 0.79 from 0.75; No change in Maxpain and it is at 11800.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11615, 11500 and 11300. Resistance: 11825, 12025, 12150 and 12250. Support & Resistance levels for today: Support: 11785, 11735, 11690 and 11660 ; Resistance: 11825 and 11907;
Both FIIs and DIIs sold 479 and 430 crores worth of shares in cash market on Friday.
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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.
