Last week was one of the toughest week for the markets as NIFTY fell more than 700 points from high and finally settled with 500 points fall. US markets strongly on Friday, Asian markets are trading mixed with positive bias marginally and SGX NIFTY is indicating flat to about 30 points gap up opening.
F&O Data Analysis (1st Oct series): Highest OI on CALL side at 11500 & 11200; Highest OI on PUT side is at 10800 & 10900. On Friday Options writing done on both CALL and PUT side. More OI added at 11500 & 11300 CALLs and 10800 & 10900 PUTs. PCR is increased to 0.98 from 0.57 which indicates good PUT writing as NIFTY was bullish on Friday. Maxpain also improved by 50 points.
Technically speaking 10920, 10790 and 10560 are important Support Levels; 11135, 11185, 11385 11445 and 11620 are important Resistance levels based on Daily charts for Positional play. For today 11010, 10950, 10920 and 10855 are important Support levels; 11075, 11135 and 11185are important Resistance 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
