Nifty Outlook and trading level before RBI meet

• FIIs bought 99802 contracts of Index Future (bought 80352 long contract and  19450 shorts were squared off) worth 3010 cores with net Open Interest increasing by 60902 contracts.So Fed kept the money flowing to India and FII have again been a net Buyers in Index Futures.

Nifty in past 6 days was trading and consolidating above 200 DMA, and opened with big gap of 200 points, Many were surprised by the move and ferocity of the move but readers of the blog would have enjoyed the rally, We have discussed September is Bullish month for Indian markets, In Nifty Weekly Analysis clearly mentioned till it trades above..

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