Nifty breaks above 8270, follow up move awaited,EOD Analysis

Thursday, January 5 Leave a Comment

  • FII's bought 26.8 K contract of Index Future worth 1673 cores ,42.3 K Long contract were added by FII's and 1.1 K short contracts were liquidated by FII's. Net Open Interest increased  by 5.1 K contract, so fall in market was used by FII's to enter long and enter shorts  in  Index futures. Traders New Year's Resolutions for 2017
As discussed in last analysis   Real test of bulls will come in range of 8250-8270,  decisive move can be seen during 04-05 Jan period. Bullish above 8270 for a move towards 8370/8450.Bearish below 8100 for a move till 7997/7900. High made today was 8218 and low 8180 so still the range trade between 8250-8100 continues.  decisive move will be seen outside this range only. As I have been discussing decisive move can be seen in 04-05 Jan so if any side range breaks expect at least 80-100 points move. We got the

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