Nifty breaks triangle follow up move awaited, FII Data Analysis

• FII's sold 4.6 K contract of Index Future worth 131 cores,6.2 K Long contract were added by  FII's and 10.8 K  short contracts  were added  by FII's. Net Open Interest increased  by 17.1 K contract so today's rise was used by FII's to add   shorts and partial longs   in Index Future. How To Identify Market Tops and Bottom

• Nifty from past 6 session has become very very volatile, Again matter of mins fell down 80 points recovered sharply and again closed near the highest point of day forming hammer pattern.Triangle pattern in hourly pattern as shown in below chart, has broken on upside, we need to see follow up move on Monday. Gunner is also entering new quadrant and pyrapoint analysis suggests Nifty is ready for an explosive move.
  

Continue Reading