NIFTY gone through consolidation yesterday with volatility and finally closed at almost same place. Global cues are mixed and going through consolidation with slight negative bias. Both US & European markets closed slightly higher yesterday, but now US & European futures are marginally down, Asian markets are mixed and SGX NIFTY indicating flat opening.
F&O Data Analysis (25th Mar series): Highest OI is at 15000 & 15200 CALLs and 14500 & 14200 PUTs. Highest OI addition is at 15000 & 14900 CALLs and 14700 & 14200 PUTs. PCR dropped marginally from 0.99 to 0.91 and no change in Maxpain at 14700. Looking at F&O data today market participants are expecting NIFTY to close between 14300 and 15200 by 25th March.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14590, 14425, 14350 and 13970 . Resistance: 14800, 14900 and 15050 . Support & Resistance levels for today based on Hourly charts: Support: 14700, 14640, 14590 and 14500; Resistance: 14800, 14875 and 14950;
FIIs sold 787 and DIIs bought 542 crores worth of stocks respectively 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.
