Nifty forms inside day candlestick pattern,EOD Analysis

• FII's sold 2.1 K contract of Index Future worth 125 cores ,1.6 K Long contract were added by FII's and 3.7 K short contracts were added by FII's. Net Open Interest increased  by 5.4 K contract, so fall in market was used by FII's to enter long and enter shorts  in  Index futures. Are you suffering from "Need to Be In a Trade" Syndrome

 As discussed in Yesterday Analysis    Now Bulls need to close above the range of 8711 for next move towards 8779-8800-8851. Bears will get active on close below 8484 only. High made today was 8667 so bulls need to wait for break of 8711-8723 range for further upmove. Nifty formed inside day candlestick today,suggesting impulsive move can be seen in next 2 trading session.

Continue Reading