Last week was week of consolidation for Market with high volatility. On Friday NIFTY was marginally up and remained rangebound throughout the day. US markets closed mixed and European markets closed positively on Friday. Now, Asian markets are trading mixed and SGX NIFTY indicating flat opening.
F&O Data Analysis (29th Oct series): Highest OI on CALL side at 12000 & 12200; Highest OI on PUT side is at 11500 & 11800. More OI added on CALL side at 12000 & 12200 and on PUT side at 11800 & 11900. PCR is marginally down from 1.24 to 1.11; No change in Maxpain and it is at 11800. By looking at current F&O data Option writers are expecting NIFTY to close between 12200 and 11500 on 29th Oct.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 11865, 11775, 11660 and 11500. Resistance: 11975, 12025, 12100 and 12250. Support & Resistance levels for today: Support: 11910, 11865 and 11820; Resistance: 11950, 11975, 12025 and 12100;
FIIs bought 907 crores worth of shares and DIIs sold 892 crores 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.
