Nifty closes below 50 SMA,FII FnO Data Analysis

• FII's sold 8.3 K contract of Index Future worth 5 cores,1.6 K Long contract were squared off  by FII's and 6.6K  short contracts  were added  by FII's. Net Open Interest increased  by 4.9 K contract.

As discussed in yesterday analysis, we thought Nifty has formed short term bottom and was ready to move up, Nifty opened gap up around 8849 and started moving down and closed well below 50 SMA, So Friday The 13 played its Role and rewarding Bears handsomely. Range of the day was 222 points. This is what we discussed today  As per gann box close above 2X1 line@8800 will add bullishness.  8820 should be watched closely tomorrow once crossed will add to bullish momentum as we have weekly closing.   As discussed yesterday Time Analysis shows big move round the corner we got 1

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