FII FnO Data Analysis for 04 Dec

• FII's sold 47.2 K contract of Index Future worth 997 cores, 40.1 K Long contract were squared off by FII's and 7.1 K short contracts  were added by FII's. Net Open Interest decreased  by 33 K contract ,so FII's squared off long in Index Futures, added shorts in index future.But with this big selling also NF was up by 3 points and BNF closed up 60 points showing no major impact seen in market.

Nifty saw a pullback of 119 points ,so keep an eye of this pullback if it extends more than 100 points as discussed in previous post  correction will resume ,else again march to new highs will be seen.so low of 8500 is very important number to be watched. Nifty On hourly charts is near the channel bottom with Hourly oversold..

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