Nifty forms short term bottom,EOD Analysis

• FII's bought 5.7 K contract of Index Future worth 370 cores ,15.8 K Long contract were added by FII's and 10  K short contracts were added by FII's. Net Open Interest increased  by 25.9 K contract, so rise in market was used by FII's to enter long and enter shorts  in  Index futures.

As discussed in last analysis  7899 is very important level which needs to be watched in coming 2 days, Closing above it we can see relief rally till 8155 levels. Close below 7900 can see fresh selling towards 7820/7750. Low made today was 7938 higher than previous day low of 7916 and in process held on to 7900. Holding 7916 we might has formed a short term bottom and see rally

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