Nifty Bounces after 606 correction,EOD Analysis

• FII's bought 7.2 K contract of Index Future worth 391 cores ,2.2 K Long contract were added by FII's and 4.9 K short contracts were liquidated by FII's. Net Open Interest decreased  by 2.6 K contract, so rise in market was used by FII's to enter long and  exit shorts in  Index futures.Keep losses small in order to avoid huge losses
  

As discussed in yesterday analysis Nifty has formed a BULLISH ABCD pattern near so if 7323 is held we can see bounceback till 7579/7610/7654 in short term , Short covering rally will be fast and furious. Nifty has corrected 637 so short covering rally cannot be ruled out, our levels are 7323/7300 should be held for the rally to take place. Nifty started

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