Stock Market Technical Analysis of the day

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At the end, Sens*x closed at 19,691.81 down by 492.93 points. It touched an intraday high of 20,210.62 and low of 19,629.22. Nifty ended at 5,904.60 down by 143.65 points. It made a high/low of 6,051.20 and 5,883.60 respectively. Market Breadth was highly negative as 620 shares advanced, 2,330 shares declined and 97 shares remained unchanged.

 

The 50-share S&P CNX Nifty finally settled at 5,904.60 after losing 143.65 points or 2.38%. Nifty January futures saw an addition of 15.11% or 3.01 million (mn) units, taking the total outstanding open interest (OI) to 22.91 mn units. For Nifty calls, 6100 strike price (SP) from the January series was the most active call with an addition of 2.91 mn or 54.77%. Among Nifty puts, 5900 SP from the January month expiry was the most active put with an contraction of 0.08 mn or 1.35%. The maximum Call OI outstanding was at 6100 SP (8.24 mn) and that for Puts at 5900 SP (6.05 mn). The respective Support and Resistance levels are: Resistance 6,009.33, Pivot Point 5,841.73 Support 5,946.47. The Nifty Put Call Ratio (PCR) OI wise stood at 0.94 for January-month contracts.

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Great points of view for stock market analysis.


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