Bulls have completely captured the market yesterday and pushed NIFTY to break previous swing high 12025 and closed at 12120. Markets rallied across the globe US, European and Asian markets closed strongly in Green. Now, after last 3 days of strong uptrend looks like markets are looking at taking some rest. Asian markets are trading mixed and flat. SGX NIFTY is indicating flat or slightly lower opening.
F&O Data Analysis (12th Nov series): Highest OI on CALL side at 12700 & 12500; Highest OI on PUT side is at 12000 & 11500. OI addition also at same strikes yesterday. PCR is at 1.23 and Maxpain is up by 200 points and now at 12000. Looking at F&O data as on today market participants are expecting NIFTY to close between 12700 and 11500 by 12th November.
Technically speaking: Support & Resistance levels for Positional Traders based on Daily Charts: Support: 12025, 11930 and 11750. Resistance: 12170, 12250, 12300 and 12430. Support & Resistance levels for today: Support: 12075, 12025 and 11930; Resistance: 12170, 12250 and 12300;
FIIs bought huge quantity of 5368 crores worth of stocks and DIIs sold 2208 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.
