Nifty forms panic low, How to trade Expiry day

• FII's sold 4.1 K contract of Index Future worth 164 cores, 5.1 K Long contract were added and 9.2 K short contracts  were added by FII's. Net Open Interest increased  by14.4  K contract , so FII added longs in Index futures also shorts were added almost  in 1:1.8 ratio.

This is what we discussed yesterday  we are nearing trendline support, we can see intraday break of trendline till 7963/7930 but might close above this.  So we did a panic low of 7950 on coal block case and bounced back sharply to close above 8000. As per EW we can now move to 8072 odd levels. Nifty held on to its trendline and today we can see  a follow upmove. Nifty is trading in sideways mode of 7950-8160 and this rangebound trading can go on till bias change from neutral to bullish as discussed in weekly analysis.  Bias is new concept we are developing to understand the future ...

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