Nifty Close above 8675 heading towards 8800,EOD Analysis

Wednesday, February 1 Leave a Comment

  • FII's bought 2.7 K contract of Index Future worth 119 cores ,11.2 K Long contract were added by FII's and 8.5 K short contracts were added by FII's. Net Open Interest decreased  by 19.8 K contract, so rise in market was used by FII's to enter long and enter  long in  Index futures. Common Excuses Made By Losing Traders
As discussed in last analysis   As we have budget tomorrow Breakout above 8675 for a move towards 8710/8775/8820. Bearish below 8550 for a move till 8480/8410. Range of Budget can be in between 8410-8710. Nifty went below 8550 during budget speech and shorts taken got stopped out but as soon as 8675 was broken nifty did 8710 and closed at the highest point of the day.

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