Nifty @ fresh life high, FII FnO data analysis

• FII's bought 11081  contract of Index Futures worth 378 cores (26.3 K longs were added  and 15.2 k shorts were added for  Index Future) with net OI increasing by41.5  K contracts. So today's FII's continue adding longs and also added fresh shorts  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, This is what we discussed in last analysis and Nifty bounced back fiercely and made a new high today at 6825. Now moving onwards, Any close above

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