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Stocks Market Technical Analysis Today

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At the end, Sens*x closed at 19,799.19 up by 107.41 points. It touched an intraday high of 19,836.82 and low of 19,621.4. Nifty ended at 5,944.10 up by 36.45 points. It made a high/low of 5,953.95 and 5,888.75 respectively.Market breadth was positive as 1,931 shares advanced and 939 shares declined whereas 121 shares remained unchanged.

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The Bombay Stock Exchange’s Sens*x ended the day at 19,799.19, up 107.41 points or 0.55%. The National Stock Exchange’s Nifty put up its shutters at 5944.10, up 36.45 points or 0.62%.

 

For Nifty calls, 5900 strike price (SP) from the December series was the most active call with a contraction of 0.05 mn or 1.27%.Among Nifty puts, 5800 SP from the December month expiry was the most active put with an addition of 0.71 mn or 10.25%. The maximum Call OI outstanding was at 5900 SP (4.58 mn) and that for Puts at 5800 SP (7.65 mn).The respective Support and Resistance levels are: Resistance 5,949.00 Pivot Point 5,872.45 Support 5,831.10.The Nifty Put Call Ratio (PCR) OI wise stood at 1.22 for December-month contracts.

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Replies (1)

 

I was watching Nifty out for 5,880 yesterday and we saw a minor breach of that level during the day but we closed above that. I am pretty okay with that. 5,880-5,870 would be the level to watch and if that breaks then we should brace ourselves for a retest of at least 5,800 and probably levels below that as well. That is the level to watch in the short-term.

My broad view still remains that we might be in this slightly bigger range of 5,750 which has held out admirably well in the last two declining movements and on the upside, 6,000 would be a key supply area. It could be a good 270 point range.

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