NIFTY continued its weakness further on Friday and broke important support level of 15000 during intraday. It was selling across all the sectors. Global cues are mixed and overall markets across the globe are consolidating with negative bias. US markets closed flat on Friday, European markets positively, Asian markets are trading mixed, US futures trading marginally negative, European futures consolidating and SGX NIFTY indicating about 30 points gap down opening.
F&O Data Analysis (25th Feb series): Highest OI is at 15500 & 15200 CALLs and 15000 & 14500 PUTs. Highest OI addition is at 15200 & 15000 CALLs and 14800 & 14900 PUTs. PCR is down to 0.87 from 1.05 and no change in Maxpain at 15000. Looking at F&O data as on today market participants are expecting NIFTY to close between 15500 and 14500 by 25th Feb.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14900 and 14750. Resistance: 15020, 15150, 15250 and 15435 . Support & Resistance levels for today based on Hourly charts: Support: 14900, 14815 and 14750; Resistance: 15020, 15080, 15150 and 15250; Note 14900 and 14750 are most important support levels and 15150 is most important Resistance level for NIFTY today.
FIIs bought 19 and DIIs sold 1175 crores worth of stocks in cash market on Friday.
Follow my TRADES at:
Telegram: https://t.me/WealthyOptions
Twitter: https://twitter.com/wealthyoptions1
Performance: https://www.wealthyoptions.in/performance
Training: https://www.wealthyoptions.in/training
Testimonials: https://www.wealthyoptions.in/testimonials
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.
