Nifty closes above 7400,FII Data Analsysis

• FII's sold 3.5 K contract of Index Futures worth 132 cores (7.9 K  longs were squared  off and  4.3 K shorts were squared off in Index Future) with net OI decreasing by 12.2  K contracts.FII's squared off  both long and shorts.

As discussed in Weekly Analysis Nifty as per Gann grid is having strong support at red line marked by Green arrow and strong resistance in red line as shown with red arrow in below chart. Nifty took exact support at 7239 green line and is moving near the green line in range of 7430-7450.  On Hourly charts Nifty is near the downward trendline resistance, also as per EW

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