Nifty Technical Analysis before Budget 2017

Tuesday, January 31 Leave a Comment

  • FII's sold 4.3 K contract of Index Future worth 320 cores ,6.6 K Long contract were liquidated by FII's and 492 short contracts were added by FII's. Net Open Interest decreased  by 8.9 K contract, so fall in market was used by FII's to exit long and enter  long in  Index futures. Common Excuses Made By Losing Traders
As discussed in last analysis  Bearish below 8600 for a move till 8550/8500 and bullish above 8700 for move towards 8775/8820. As soon as 8600 was broken Nifty made low of 8552 near our target of 8550 as its was support zone as shown in below.

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