Nifty fails to cross supply area, FII FnO Data Analysis

• FII's bought 27.1 K contract of Index Future worth 598 cores ,21.6 K Long contract were added by FII's and 5.5 K  short contracts  were squared off by FII's. Net Open Interest increased  by 16.1 K contract, so today's market was used by FII's to exit shorts in index futures and exit shorts. Why traders who trade on news are Bound to fail in long run.

Nifty continue to form higher high and higher low formation , still unable to cross  crucial supply area as discussed in Weekly analysis. Today high was 8491 and our supply area was at

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