Yesterday markets recovered most of the Monday’s fall and closed positively. US indices Dow Jones and S&P 500 closed negatively and Nasdaq closely positively; European markets closed in red; Asian markets are trading marginally red and SGX NIFTY is indicating gap down 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 & 11700. A lot of CALLs unwinded yesterday as NIFTY rallied by more than 1% and not much OI added on CALL side; On the other hand PUT writing was aggressive at 11800 & 11700 strikes. As a result of this PCR raised from 0.85 to 1.16; 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: 11730, 11660 and 11500. Resistance: 11920, 11975, 12025, 12100 and 12250. Support & Resistance levels for today: Support: 11860, 11790, 11730 and 11665; Resistance: 11920, 11975 and 12025;
FIIs bought huge quantity of 3515 crores worth of shares and DIIs sold 1571 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.
