NIFTY closed near all time high on Thursday in most dramatic and volatile way by moving 650 points down and then up. It was very sharp fall and then followed by quick recovery in 3 trading sessions. Asian markets, US Futures and European Futures are all trading positively and SGX NIFTY is indicating gap up opening by 50 points which would make new All Time High.
F&O Data Analysis (31st Dec series): Highest OI is at 14000 & 13800 CALLs and 13000 & 13500 PUTs. Highest OI addition was at 14000 & 13900 CALLs and 13700 & 13600 PUTs. PCR is raised to 1.49 as there was more PUT writing and Maxpain is at 13500. Looking at F&O data as on today market participants are expecting NIFTY to close between 14000 and 13500 by 31st Dec.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13500, 13330, 13130, 13000 and 12790. Resistance: 13800, 13900 and 14000. Support & Resistance levels for today based on Hourly charts: Support: 13730, 13675 and 13625; Resistance: 13800, 13850 and 13900;
FIIs bought 1225 crores worth of stocks and DIIs sold 1898 crores worth of stocks in cash market on Thursday.
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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.
