It was a day of consolidation with bounce back on Friday after storm on Thursday. Global cues are positive overall. SGX NIFTY is indicating gap up opening by about 150 points.
F&O Data Analysis (1st Apr series): Highest OI is at 15000 & 14700 CALLs and 14000 & 14500 PUTs. Highest OI addition is at 15000 & 14800 CALLs and 14500 & 14000 PUTs. PCR rose from 0.67 to 0.82 and no change in Maxpain and now at 14500. Looking at F&O data today market participants are expecting NIFTY to close between 14000 and 15000 by 1st April.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14575, 14410 and 14260 . Resistance: 14710, 14880 and 15000 . Support & Resistance levels for today based on Hourly charts: Support: 14575, 14475 and 14410; Resistance: 14670, 14720, 14785 and 14880;
FIIs sold 50 and DIIs bought 1703 crores worth of stocks respectively in cash market on Friday.
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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.
