Friday, May 8

Nifty complete ABC pattern, How to trade next move

FII
  • FII's sold 40.9 K contract of Index Future worth 946 cores,41.7 K Long contract were squared off  by  FII's and 853  short contracts  were squared off by FII's. Net Open Interest decreased  by 23.7K contract so today's fall was used by FII's to square off longs in Index Future .Sensex Crashes 700 Points:Reason for sharp fall
Nifty has meet its ABC pattern target of 7994 made low of 7997 and saw a bounce back in last 30 mins of trading. Nifty also held on to its Median line of AF as shown in below chart. Also last 3 correction were marked by DOJI pattern which was formed today. Tomorrow if market opens gap up will signal formation


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