MIDCPNIFTY TECHNICAL LEVEL & DERIVATIVE ANALYSIS

MIDCPNIFTY BULLISH BREAKOUT ZONE 14650 MIDCPNIFTY BEARISH BREAKOUT ZONE 14450 OPEN INTEREST UPDATES IN OPTION CHAIN : HIGHER OPEN INTEREST SEEN @ 14500 CALL & 14500 PUT. AS PER DATA ANALYSIS MARKET LOOKS RANGE BOUND TO MARGINAL POSITIVE. AS PER OPTION CHAIN ANALYSIS NEAR TERM RESISTANCE IN MIDCPNIFTY IS 14600, 14900 AND SUPPORT IS 14350. PUT CALL RATIO IS AROUND 0.97 IT INDICATES MARKET IS NEUTRAL AND NOT SEEN BIG CHANGE COMPARE TO PREVIOUS DAY. TODAY PHARMA SECTOR SEEN GOOD RALLY. ELECTRONICS GOODS SECOR STILL LOOKING VERY GOOD ON THE BASIS OF LONG TERM ANALYSIS. FINANCE SECTOR STILL CONFUSED ABOUT RATE HIKE SO BETTER TO AVOID NBFC SPECIALLY. THIS IS OTION SELLER MARKET SO AVOID OPTION BUYING IN PRESENT SETUP.