Pre-Market Analysis for 23 Oct 20

NIFTY behaved like NIFTY in recent times, it was rangebound throughout the day. US markets closed marginally high, European markets closed flat, Asian markets closed mixed and SGX NIFTY indicating gap up opening by 30 to 40 points.

F&O Data Analysis (29th Oct series): Highest OI on CALL side at 12000 & 12200; Highest OI on PUT side is at 11500 & 11600. More OI added on CALL side at 12000 & 11900 and on PUT side at 11800 & 11900. PCR is 1.24; Maxpain is 11800.

Technically speakingSupport & Resistance levels for Positional Traders based on Daily Charts: Support: 11820, 11775, 11660 and 11500. Resistance: 11955, 12025, 12100 and 12250. Support & Resistance levels for todaySupport: 11885, 11820 and 11775; Resistance: 11930, 11955, 11985, 12025 and 12100; 

FIIs bought 1118 crores worth of shares and DIIs sold 2020 worth 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.

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