NIFTY continued its southward journey and lost another 150 points in yesterday trading session however closed above crucial support level of 13775. US markets closed positively, European markets positive except UK market, Asian markets are consolidating, US futures are down and European futures are mixed, SGX NIFTY is indicating 130 points gap up opening.
F&O Data Analysis (4th Feb series): Highest OI is at 14000 & 14500 CALLs and 13500 & 13800 PUTs. Highest OI addition is at 14000 & 13800 CALLs and 13800 & 13400 PUTs. PCR is at 0.71 and Maxpain at 13900. Looking at F&O data as on today market participants are expecting NIFTY to close between 14500 and 13500 on 4th Feb.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 13710 and 13500. Resistance: 13935, 14100, 14220 and 14500. Support & Resistance levels for today based on Hourly charts: Support: 13845, 13775 and 13710; Resistance: 14935, 14000, 14040 and 14100;
FIIs sold 3712 and DIIs bought 1737 crores worth of stocks 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.
