Nifty Technical Analysis for 16 April

• FII's sold 30696 contract of Index Futures worth 1028 cores (17.5 K longs were squared off and 13.1 k shorts were added for  Index Future) with net OI decreasing by 4.4 K contracts. So today's FII's have started entering shorts in Index Futures.

Nifty finally broke its up trending channel and closed below it,Nifty is now trading at crucial juncture and any break below 6650 will end the current uptrend. On going correction is good for market as it will shake off weak hands and market can

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