Nifty forms hanging man, How to trade on 6 March

• FIIs bought 20503  contracts of Index Future worth 328 cores (22.7 K Long contracts were  added and 2.2 K short contract  were added ) with net Open Interest increasing by 25 K contracts, so FII's added huge longs in index future and  marginal shorts were added.
  

• Nifty finally closed above the trendline resistance, but with a formation of bearish  hanging man candlestick. So low of 6287 will be very important to watch for next 2 days. Holding 6287 we can move towards all time high, Unable to do so we can correct back to 6200 odd levels. 3 Conditions should be satisfied for pattern to confirm.

Continue Reading