FII Derivatives Analysis for 25 May Trade

Bulls gave a Knockout punch today to bears and in one instance closed above 4900 . Does it change the trend.
My analysis show till its below 4960 Bears still have upper hand,Bear market rallies are sharp furious and short lived. Above 4960 Bulls will get upper hand . Expiry is 5 days away and till now as we have discussed we can see a move 4700-5000 till expiry and tomorrow being a Weekly closing  Bulls needs to close nifty above 4918 else this upmove will also flatter.
1. FII  sold 26556  Contracts of Index Futures worth 660 cores OI increased by 18648.
2. As Nifty Futures was up  by 98  points with  OI increased  by18648 , Short were covered by FII.
3. INR closed at new low of 55.70 (http://usdinrlive.blogspot.in/) So at last Fall in USD after 7 days of strength.
4.Nifty is still not out of woods...

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