Nifty Bulls continue to protect 8370,EOD Analysis

Monday, January 16 Leave a Comment

  • FII's sold 341 contract of Index Future worth 118 cores ,9.6 K Long contract were added by FII's and 9.9 K short contracts were added by FII's. Net Open Interest increased  by 19.5 K contract, so rise in market was used by FII's to enter long and enter shorts  in  Index futures. Do not Strike when Angry
As discussed in last analysis   Now going forward fresh long should be taken above 8460 only. Nifty has rallied 567 points so small consolidation in a range should be done before the next leg of rally. Trading below 8410 nifty can see correction towards 8338/8250, Bullish above 8460 for a next move towards 8555/8598/8680.  Nifty  made high of 8426 and low of 8374 so bulls unable to close above 8460 and bears below 8370. As 8370 was previous resistance now it has become
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