Nifty Trading Strategy for 8 Feb based on FII F&O analysis

1. FIIs sold 3647 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 105.22 cores with net Open Interest decreasing by 2615 contracts. Trader Self-Evaluation by Van K. Tharp, Ph.D.
2. As CNX Nifty Future was down  by 12  points with Open Interest in Index Futures decreasing by 2615 FII have booked  profit  in Nifty and Bank Nifty future shorts .FII average traded Price comes to 5770 which shows they were mostly concentrated on day trading today.

3. NS closed at 5939 after opening gap down on weak global cues making high of 5979 and low of 5928.Nifty made the high near our first resistance of 5982 and low near our second support of 5930 as discussed yesterday .

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