Nifty Technical Analysis before Railway Budget and Feb Expiry

• FII's sold 34.2 K contract of Index Future worth 931 cores, 52.5 K Long contract were added by FII's and 86.5 K  short contracts  were added  by FII's. Net Open Interest increased  by 139 K contract ,so FII's added  long  and added shorts in Index Futures with high volumes,signifying rollovers are happening. As of now 67.1% Rollover is done in Nifty Future.

Nifty had another volatile session of trade today opening with gap up and closing the gap during the day, forming low of 8751,unable to close above the green line of gann box  and again closed below 21/34 EMA. Support lies in range of 8700-8680 and resistance in range of 8820-8840 range. Railway Budget..

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