FII FnO Data Analysis for 12 Dec

• FII's sold 32.9 K contract of Index Future worth 723 cores, 4.5 K Long contract were squared off by FII's and 28.3 K short contracts  were added by FII's. Net Open Interest increased  by 23.8 K contract ,so FII's squared off long in Index Futures and continue adding shorts in index future.

• Nifty has broken its hourly channel and going below the low of 8272 which is 38.2% retracement ,  Bulls should look for close above 8350 to confirm correction is over and any close above 8440/8450 would confirm we can again move up till 8550/8580 range. Break of 8272 on closing basis can decline till 50 DMA.

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