Nifty corrects from resistance zone,FII FnO Analysis

• FIIs bought 3947 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 116 cores with net Open Interest increasing by 12307 contracts, so profit booking done by  FII.  Have you take Positional Traders Fear Test

Nifty made a new 52 week high @6229 in morning above our Weekly Trend Deciding level  with a gap up. As per Gap theory, signs were clear Nifty will go for gap filling , hence intra shorts were active below 6221. As discussed in Weekly analysis Nifty has strong resistance in range of 6220-6222with negative divergence..

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