Nifty ready for trending move, EOD Analysis

Monday, May 22 Leave a Comment

  • FII's sold 1 K contract of Index Future worth 78 cores ,9.9 K Long contract were added by FII's and 10.9 K Short contracts were added by FII's. Net Open Interest increased  by 20.8 K contract, so rise in market was used by FII's to enter long and enter short in  Index futures. Money is a Lot Like Water
As discussed in last analysis  Low made was 9390.75 exactly the level we were expecting also shown in below chart and than we saw a small pullback till 9435 which can get extended to 9500/9530/9575 till 9390 is protected on downside. High made today was 9498 so bulls did the 1 tgt of 9500 above 9390, till 9390 is held bulls can see move till 9500/9530/9575. Bearish below 9390 for a move towards 9320/9270. Expect a good move in next 2 days.
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