Nifty does range breakdown,EOD Analysis

Saturday, January 21 Leave a Comment

  • FII's bought 6 K contract of Index Future worth 436 cores ,2 K Long contract were liquidated by FII's and 8.1 K Short contracts were liquidated by FII's. Net Open Interest decreased  by 10.1 K contract, so fall in market was used by FII's to exit long and exit shorts  in  Index futures. A Person who won’t stand for something will fall for anything..
As discussed in last analysis   High made today was 8445 so gann resistance zone continue to play its pivotal role as shown in below chart, low was 8404 so still the range trade continues buy low sell higher till the range does a breakout or breakdown. Bulls need close above 8460 for move towards 8500/8555. Bear below 8370 for move towards 8328/8280. Expect Impulsive move in next 1-2 trading days.
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