MORNING NIFTY AND BANK NIFTY UPDATE ALONG WITH STOCKS LEVELS FOR THE DAY (14TH FEB 2020)
After two days of consecutive rally, the benchmark indices ended lower on the weekly F&O expiry. The S&P BSE Sensex fell 0.26 percent to close at 41,459.79 and the NSE Nifty 50 fell 0.22 percent to close at 12,174.65. The broader markets represented by the NSE Nifty 500 Index fell 0.19 percent.
The market breadth was tilted in favor of sellers. About 986 stocks declined and 790 shares advanced on National Stock Exchange. Six out of 11 sectors compiled by NSE ended lower, led by the NSE Nifty Private Bank Index fall by 1.4 percent. On the other side, the NSE Nifty Pharma Index was the top sector to gain by 0.85 percent on the Thursday trading session.
According to Open Interest Data, the Maximum Call open interest stand at 12200 and put 12100 suggests us support and resistance for the index. Valuation wise maximum Call & Put stands at 12200 indicate major level for market, PCR stand at 12100 validate it as a strong support level. Writing in call and buildup in put option indicates flat to red move ahead
Index snapped its three-day winning streak and closed in red
Now, what next???
Nifty future has support at 12100 and resistance at 12200.
Buy above 12100 will take it to 12150-12180. Above 12200 Price may witness of short-covering, else it could test 12060-12040 on the downside.
Fresh sell will see only closing below 12000
According to Open Interest Data, the Maximum Call open interest stand at 31500 (contract wise) and put option31000(contract wise) suggests a trading range of 500 points. valuation wise index has an important level at 31500. PCR stands at 31000 validate it as a strong immediate support level. Writing in call and buildup in put option indicates flat to red move ahead
Bank Nifty future has support at 31200 and resistance at 31400
Buy above 31400 will take it to 31600, else it could test its support level of 31200 on the downside.
Fresh sell will see only closing below 31000