FII FnO data Analysis for 17 April

• FII's sold 5559 contract of Index Futures worth 197 cores (16.6  K longs were added  and 11.1 k shorts were added for  Index Future) with net OI increasing by 27.7 K contracts. So today's FII's have started entering longs in Index Futures.

Nifty is entering the demand zone, with hourly charts entering oversold so if 6650-6642 is held we can see a decent bounceback till 6710,6750. During an uptrend market might correct for 2-3 session giving a trend reversal signal but can bounceback equally sharply, Weekly closing tomorrow Bulls will like to close nifty above


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