NIFTY has been volatile yesterday and made new intraday high of 12969 yesterday. NIFTY has been consolidating in 230 points range in last 5days. Any decisive breakout above 12970 or below 12730 will set new direction for NIFTY. India VIX rose 6% yesterday. US markets closed positively yesterday, European markets closed flat, Asian markets are mostly trading in Green and SGX NIFTY indicating flat opening.
F&O Data Analysis (26th Nov series): Highest OI on CALL side at 13000 & 13200; Highest OI on PUT side is at 12800 & 12500. OI addition is high at 13200 & 13100 on CALL side and at 12900 & 12850 on PUT side. PUT options writers are rolling up their position and CALL option writers moving their strikes further up to be safe. No change in PCR. Maxpain is up by 100 points and now at 12800. Looking at F&O data as on today market participants are expecting NIFTY to close between 13200 and 12500 for November monthly expiry.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12765, 12730, 12610 and 12430. Resistance: 12970, 13065 and 13200 Support & Resistance levels for today based on Hourly charts: Support: 12910, 12825, 12765 and 12730; Resistance: 12970, 13000 and 13065;
FIIs bought 4738 crores worth of stocks and DIIs sold 2944 crores worth of stocks 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.
