Nifty break 8150, follow up down move awaited, EOD Analysis

Saturday, December 17 Leave a Comment

  • FII's sold 8.4 K contract of Index Future worth 504 cores ,12.4 K Long contract were liquidated by FII's and 4 K short contracts were liquidated by FII's. Net Open Interest decreased  by 16.4 K contract, so fall in market was used by FII's to exit long and exit shorts  in  Index futures. Visualizing Failure to be Successful
As discussed in last analysis  zone of 8154-8250 is like no trade zone for trend followers and paradise for scalper :). As Time Cycle is changing so expect this range to break in next 2 trading sessions. Above 8250 target 8330/8370/8444. Below 8150 target 8100/8050/7972. High made today 8178 and close at 8139 so small range breakdown has happened , Monday we should see follow down move towards 8100/8050 till we are closing below 8150, Trading activity will reduce in next 2 weeks

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