Nifty near inflexion point, Will 50 SMA hold ?

• FII's sold 8476 contract of Index Future worth 323 cores, 8.6  K Long contract were added  and 17.1 K short contracts were added by FII's. Net Open Interest increased  by 25840  contract.FII's added shorts aggressively in Index Futures today.

Nifty closed near its 20 DMA, and break of 7668 and sustained below this will give indication of gap filling from 7622-7601. Nifty has been frustrating the traders from past 3 trading sessions as going up and down alternate day, triggering SL of Trend followers. Traders need to understand, market cannot move in straight line and will trade in a range like currently

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