Nifty again bounces from 8490 again, EOD Analysis

• FII's bought 8.4 K contract of Index Future worth 558 cores ,8.9 K  Long contract were added by FII's and 0.5 K short contracts were added by FII's. Net Open Interest increased  by 9.5 K contract, so rise in market was used by FII's to enter long and enter shorts  in  Index futures. Trading Lesson Learnt From my Trading Guru Part-II

 As discussed in Yesterday Analysis   Bulls should protect 8490 else we can see a quick correction till 8410-8400. Bullish on close above 8577 for target of 8650, Expect impulsive move in next 2 trading sessions. Low made was 8489 so bears unable to close below 8490 and  Bulls also unable to close above 8577 gann number, suggesting fight between bulls and bears for close below 8490 or above 8577.  Close above

Continue Reading