Nifty bounce from lower end of range to higher end

Tuesday, May 16 Leave a Comment

  • FII's sold 1.6 K contract of Index Future worth 117 cores ,1.1 K Long contract were liquidated by FII's and 485  Short contracts were added by FII's. Net Open Interest decreased  by 656 contract, so rise in market was used by FII's to exit long and enter short in  Index futures. Lesson a TRADER can learn from ANT
As discussed in last analysis   Nifty made high of 9450 almost doing our target of 9459, now we should see some consolidation in market in range of 9368-9460 for the next round of up move towards 9559. Bearish below 9310 only.  Low made was 9372 and High made was 9437 so nifty continue to trade in range of  9368-9460, Now bulls needs to break 9460 for next round of upmove towards 9529/9600. and bears need to break 9368 for a fall towards 9310/9256.  High made today was 9449 and low made was 9423 so nifty continued to trade in
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