#markets Yesterday #Nifty was trying to sustain below 12000 but later in last hour, But we saw a sharp recovery in the last hour which brings #nifty50 nifty again in its previous range(12000-12200).
Now based on OI data, 12000 is again playing a major support level.
While 12200 is acting as a strong resistance level. PCR at 12100 is still at 0.70 which is acting as an immediate resistance level.
So we can say that support is at 12000, while the first resistance is at 12100 and second a major resistance for this weekly expiry is at 12200.
#banknifty which was trying to sustain below 30500, came back again in the previous range of 30500 - 31000.
Based on OI data, we can see huge PUT writing at 30500 PE,30600 PE & 30700 PE, indicates that 30500 is the support for this weekly expiry and 31000 is the resistance.
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