NIFTY opened with 110 points unexpected gap up and then witnessed selling pressure, so turned into volatile and then rangebound in afternoon session. US markets closed weak by closing 1.5% lower, European markets closed marginally low, Asian markets are trading marginally lower and SGX NIFTY indicating gap down opening by 50 to 60 points.
F&O Data Analysis (22nd Oct series): Highest OI on CALL side at 12000 & 11900; Highest OI on PUT side is at 11800 & 11700. More OI on CALL side added at 12200 and on PUT side at 11800. OI on PUT side is moved up by 100 points. PCR is marginally increased to 0.88 from 0.79; No change in Maxpain and it is at 11800.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11790, 11660, 11500 and 11300. Resistance: 11900, 12025, 12150 and 12250. Support & Resistance levels for today: Support: 11820, 11790, 11735 and 11660 ; Resistance: 11865 and 11900;
FIIs bought 1658 crores worth of shares and DIIs sold 1621worth of shares 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.
