Yesterday both NIFTY and BANKNIFTY broke all the important Support levels and closed very weak. It was broad based selling across almost all the segments. FIIs sold close to 1900 crores worth of stocks while DIIs bought little quantity of 185 crores.

European markets closed in RED yday, US markets up marginally, Asian markets are trading in Green and SGX NIFTY indicating 100 points gap up opening.

F&O Data Analysis (1st Oct series): Highest OI on CALL side at 11000 & 11200; Highest OI on PUT side is at 10000 & 10800. Big drop in PCR and Maxpain; PCR at 0.57 and MP at 10950 now.

Technically speaking 10750 and 10560 are important Support Levels; 11100, 11185, 11385 11445 and 11620 are important Resistance levels based on Daily charts for Positional play. For today 10950 and 11015 are important Resistance levels and 10880, 10790, 10750 and 10700 are important Support levels. It’s sell on rally market now, any up move may likely get sold by positional traders. BANKNIFTY is heading down towards 20000 and 19500 levels.

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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