NIFTY continued its rally on Thursday and then slipped into long weekend. Global cues are positive overall but there are raising fear on Covid19 second wave and so possibilities of imposing lockdown again. SGX NIFTY indicating gap down opening by about 40 to 50 points.
F&O Data Analysis (8th Apr series): Highest OI is at 15000 & 15200 CALLs and 14700 & 14800 PUTs. Highest OI addition is at 15000 & 15100 CALLs and 14700 & 14800 PUTs. PCR is at 0.83 and Maxpain at 14800. Looking at F&O data today market participants are expecting NIFTY to close between 14500 and 15200 on 8th April.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 14800, 14690, 14610 and 14500 . Resistance: 14885 and 15000. Support & Resistance levels for today based on Hourly charts: Support: 14850, 14815, 14750 and 14690; Resistance: 14885, 14955 and 15000;
FIIs bought 149 and DIIs sold 297 crores worth of stocks in cash market on Thursday.
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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.
