On PUT side highest total OI (28,046 lots) and highest Put writing (13,676) is at 15000 strike meaning as of now, 15000 looks OK support. On CALL side, highest total OI (53,615 lots) and highest Call writing (44,765) is at 15300 which means 15300 looks like solid resistance. One more minor observation, look at of Call OI and Call writing-it is significantly higher than on Put side, which tells us that markets are on note. But then, FIIs were buying so how come markets are showing signs? So let us examine FII and DII buy/sell figures.
On Friday, FIIs were net sellers in Equity Cash segment by 164 Crs and DIIs were net sellers by 942 Crs . FIIs (net) sold index by 586 Crs and stock by 1,357 Crs . Maning FIIs sold well on last Friday. Going further, out of last 6 trading sessions, in Cash segment, FIIs were net sellers in 5 sessions. In only one session they bought stocks worth 2,802 Crs whereas DIIs, during the same period, were net buyers in 3 sessions and net sellers in 3 sessions. This implies that days of blanket buying by FIIs are over and similarly days of blanket selling by DIIs are also over. Now stock and sector specific buying and selling will happen which again means that markets are in consolidation phase.
On Charts, Nifty fell from its intraday high, which it reached after more than 15 sessions, to close as a big red candle taking support at mid-line of (20 day ) and 20 and closed above psychological support of 15000. So if world markets are supportive, Nifty might open gap up and climb up. On Friday night, US markets gave mixed signal- DOW (DJIA) was up by 0.90% but NASDAQ closed 0.59% down and S&P500 closed marginally 0.10% up- so it is not alarming scenario. SGX nifty at night closed at 15090 up by 61 points which indicates positive bias w.r.t. our Nifty . In a nutshell, Nifty looks so buy at around 14,950 and sell within the selling Area demarcated on chart (15,200 -15,235) with SL above 15,240. There is a clear-cut resistance at 15,300 so Sell here and put SL above 15330.
Happy trading, stay safe, stay healthy.