Nifty Daily Technical, FII F&O Analysis for 15 March

Filtering of Noise is one of the most important characteristic of trader as discussed in Successful Traders Secret Mantra today was the test, Rumors of Scam in Banking Sector, panic selling in Stock market formation of panic bottom and a rally.
1. FIIs bought 1445 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 45 cores with net Open Interest decreasing by 3895 contracts. Mastering Fear in trading
2. As CNX Nifty Future was up by 72 points, with Open Interest in Index Futures decreasing by 13351 so FII have covered  shorts  in today's session at lower levels.FII also did lot of day trading today looking at derivative data,
3. NS closed at 5909 after  making high of 5920 and low of 5791,Nifty has formed Bullish engulfing pattern with rise in volume after a decline of the last couple of sessions ..

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