MORNING NIFTY AND BANK NIFTY UPDATE AND STOCK LEVELS (13TH FEB 2020)

Benchmark indices ended higher for the second consecutive days, led by the gain in the FMCG stocks in the previous trading session. The S&P BSE Sensex rose 0.85 percent to close at 41,565.90 and the NSE Nifty 50 rose 0.77 percent to close at 12,201.20. The broader markets represented by the NSE Nifty 500 Index rose 0.5 percent.

The market breadth was tilted in favor of sellers. About 1,069 stocks declined and 726 shares advanced on National Stock Exchange. Seven out of 11 sectors ended higher, led by the NSE Nifty FMCG gain by 1.9 percent. On the other side, the NSE Nifty PSU Bank Index was the top sector to lose by 1.9 percent on the Wednesday trading session.

NIFTY

According to Open Interest Data, the Maximum Call open interest stand at 12300   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 input and buildup in call option indicates flat to green move ahead

Index maintained Higher High-Higher close pattern on the chart with a 0.77% gain.

Now, what next???

Nifty future has support at 12200 and resistance at 12300.

Buy above 12200 will take it to 12250-12280, else it could test 12160-12140 on the downside.

BANKNIFTY

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 input and buildup in call option indicates flat to green move ahead

Buy above 31600 will take it to 31800-32000, else it could test its support level of 30400 on the downside.

concentrate on...

PIDILITIND FUTURE

Stock is trading in a positive trend and looks more bullish above 1600 levels on the chart. We will expect more upside movement in it.  

Traders can buy above 1600 with a stop loss below 1575 levels on a closing basis for the target of 1630 +++ levels in days to come.

Now concentrate on other password-protected stocks...