Nifty forms piercing pattern, FII data Analysis

• FIIs sold 3542 contracts of Index Future worth 114 (1592 Long contracts were squared off and 1950 short contract  were added ) with net Open Interest increasing by 358 contracts, so FII's added shorts in index future before vote of account.
  

Yesterday we had discussion  Nifty is entering now in demand zone of 5970-5950 which if held we can see a bounce back. Market is trading in range of 6100-5950.  Market reacted very fast as soon as it entered the range and closed at 6048. We have vote on account on Monday which will

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