Nifty rallies on hope of rate cut,FII FnO Data Analysis

• FII's bought 177 K contract of Index Future worth 3823 cores ,121 K Long contract were added by FII's and 55 K  short contracts  were squared by FII's. Net Open Interest increased  by 66 K contract. Highest number of Longs added by FII's in 2015 in single day also before RBI policy on 2 June. Is it possible for an amateur trader to make sustainable profits ?

Nifty reacted from the zone of support as shown in below chart, took support near  20 SMA, and reacted sharply on last trading day of the month and is now entering the crucial resistance zone before the RBI policy on 02 June.  AS per Gunner also we are near red arc suggesting testing time ahead. Monday can be a rangebound day

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