Thursday, June 5

Nifty consolidates, FII FnO Data Analysis

FII_1
  • FII's sold 17.3 K contract of Index Futures worth 645 cores (7.8 K  longs were squared  off and  9.5 K shorts were added  in Index Future) with net OI increasing by 1.7  K contracts.FII's added  shorts today aggressively .
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 there are 2 possibility as shown

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