FII FnO Data Analysis for 14 Oct

• FII's sold 20.9 K contract of Index Future worth 822 cores, 12.3 K Long contract were squared off  and 8.6 K short contracts  were added by FII's. Net Open Interest decreased  by 3.6 K contract , so FII liquidated long in index futures  and added  short in index futures.

Nifty dipped below the 50% gann box line, but recovered immediately and closed near the important resistance zone of 7904-7924 range. On Downside 7860/7850 range will act as strong support. Nifty still has not closed above its 50 DMA so bears have upperhand in short term. Inflation data and Reliance results both were favorable suggesting bulls will have upperhand

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