Will Nifty Bulls be able to protect 9460 ?

Thursday, May 18 Leave a Comment

  • FII's bought 119 contract of Index Future worth 7 cores ,3.9 K Long contract were added by FII's and 3.8 K  Short contracts were added by FII's. Net Open Interest increased  by 7.8 K contract, so rise in market was used by FII's to enter long and enter short in  Index futures. Why Do Traders Lose Money Part -I?
As discussed in last analysis  Nifty did range breakout once 9460 was broken and moved towards the first target of 9529 and 9590. Time Analysis again favored bulls. Bearish below 9368 only. Nifty continue to hold 9460 and made a new life high and in process did our target of 9529, high made was 9532. Now bulls should hold the range of 9450-60 range for  a move towards 9590 which is major zone of resistance, Bearish below 9368 only.
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