Pre-Market Analysis for 23 Nov 20

NIFTY touched All Time High of 12963 last week and witnessed profit booking, however took support at 12730 on Friday. Global markets consolidated last week and NIFTY also sort of consolidated in last 3 trading sessions. US markets closed marginally in Red, European markets closed marginally up, Asian markets trading positively, US Futures trading in Green marginally and SGX NIFTY indicating 60 points gap up opening.

F&O Data Analysis (26th Nov series): Highest OI on CALL side at 13000 & 12900; Highest OI on PUT side is at 12800 & 12500. OI addition is high at 12800 & 13200 on CALL side and at 12800 & 12500 on PUT side. PCR is gone up as NIFTY took support and people started selling more PUTs and now at 1.32. No change in Maxpain and now at 12700. Looking at F&O data as on today market participants are expecting NIFTY to close between 13200 and 12500 for November monthly expiry.

Technically speakingSupport & Resistance levels for Positional Traders based on Daily Charts: Support: 12765, 12730, 12610 and 12430. Resistance: 12965, 13030, 13100 and 13200 Support & Resistance levels for todaySupport: 12865, 12840, 12765 and 12730;  Resistance:  12895, 12965 and 13030; 

FIIs bought 3860 crores worth of stocks and DIIs sold 2868 crores worth of stocks 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.

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