Nifty enter support zone, FII FnO Data Analysis

• FII's bought 14.5 K contract of Index Future worth 352 cores, 37.6 K Long contract were added by FII's and 23.1 K short contracts  were added by FII's. Net Open Interest increased  by 60.7 K contract ,so FII's added long in Index Futures and continue adding shorts in index future.

Nifty has broken its hourly channel,broken its 38.2% retracement. Nifty has corrected 411 points in the current correction, maximum correction seen in current bull market was 476 points.  We are near AF Support, September month resistance of 8181 and 50 SMA, so traders shorts can book profit. IIP data is very bad..

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