Nifty continues to trade in range of 8460-8370,EOD Analysis

Wednesday, January 18 Leave a Comment

  • FII's sold 13.4 K contract of Index Future worth 895 cores ,5.8 K Long contract were added by FII's and 19.3 K Short contracts were added by FII's. Net Open Interest increased  by 25.2 K contract, so rise in market was used by FII's to enter long and enter shorts  in  Index futures. Making Overnight Money via Trading
As discussed in last analysis   Bulls unable to break 8460 and bear 8370 and yo-yo move continue within the small range of 90 points, Bulls need close above 8460 for move towards 8500/8555. Bear below 8370 for move towards 8328/8280. High made today was 8460 so gann resistance zone continue to play its pivotal role as shown in below chart, low was 8397 so still the range trade continues
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