Nifty rallies retracing 50% of yesterday fall,Will rally continue?

• FIIs sold 68508 contracts of Index Future (Sold 2234 long contract and  26498 fresh shorts were liquidated) worth 648 cores with net Open Interest decreasing by 28732 contracts.So FII shorted 50K contract yesterday has exited 26K contract in today's rise and are still holding the remaining 23K contracts.So net to net basis are still short in market.

Last 2 trading days have been a roller coaster ride for traders.Nifty has retraced almost 50% of yesterdays fall but close was below 5477 previous resistance. 5482 is Golden..

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