Nifty close on 8520 keeping bulls and bears in dilemma,EOD Analysis

Tuesday, October 18 Leave a Comment

  • FII's sold 16 K contract of Index Future worth 1032 cores ,17.8 K Long contract were liquidated by FII's and 1.7 K short contracts were liquidated by FII's. Net Open Interest decreased  by 19.6 K contract, so fall in market was used by FII's to exit long and exit shorts  in  Index futures.  Why Trading is a mental game
 As discussed last Analysis   On Downside strong support in the range of 8448-8450.  Nifty made low of 8549.80 and range of 8500-8520 was protected, now bulls need a close above 8600 for a fast move till 8642/8663, Close above 8663 will give momentum to bulls for a fast move 8756/8800 Bear will get active below 8518 for target 8476/8448 . Nifty closed at 8520
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