Daily Analysis 14 November 2024

Final Market Overview based on data 13th nov.

- Retail: Bearish on index futures & options. Heavy selling & cautious positioning.

- DII: Predominantly bullish in futures with selective hedging through options.

- FII: Mixed sentiment; bullish in futures/calls but hedging with puts.

- Pro: Mixed activity; bullish on index options but selective in stock options.

Sentiment.

Cautiously bullish by institutions, bearish tilt by retail with strong hedging. Mixed outlook overall with focus on volatility management.

We have seen sharp correction in last two trading session. Dollar index is rising against INR and this was the main reason for all these big down moves.

Now both index is very close to yearly fair value ( vwap ) at 23260/49300.

This is just for a reference for bull run continuation. If we hold above this and bounce back will lead for fresh directional sentiments.

Intraday support and resistance.

Support.

Nifty 23400 major support 24560 minor support. 23600 pivot strike and above this we will lead to test resistance at 23750/800.

Bank nifty support major at 50000 and monitor at 49700/800.

50200 is pivot gravit point and above this will lead to retest resistance at 50500/600.

We will focus on current range only and let’s see how intraday things develops.

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