NIFTY was on fire yesterday and ended up with 360 points rally lead by IT, Pharma, FMCG, Metals, HDFC Bank. Global cues are marginally negative and SGX NIFTY indicating gap down opening by about 70 points.
F&O Data Analysis (1st Apr series): Highest OI is at 15000 & 14800 CALLs and 14500 & 14600 PUTs. Highest OI addition is at 15100 & 15000 CALLs and 14600 & 14700 PUTs. PCR rose from 0.82 to 1.1 and Maxpain also up by 200 points and now at 14700. Looking at F&O data today market participants are expecting NIFTY to close between 14500 and 15100 by 1st April.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14710, 14610 and 14500 . Resistance: 14880, 15000 and 15250. Support & Resistance levels for today based on Hourly charts: Support: 14785, 14710 and 14615; Resistance: 14880, 14955 and 15000;
Both FIIs and DIIs bought 769 and 2181 crores worth of stocks respectively 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.
