S&P CNX Nifty Trading Strategy after double bottom formation

1. FIIs  sold 4770 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 134.12 cores with net Open Interest increasing by 560 contracts.
2. As CNX Nifty Future was up by 38 points after 5 days of losing streak with Open Interest in Index Futures increasing by 560, so FIIs have booked shorts  in  Nifty and Bank Nifty Futures.WPI data was a surprise coming at just 7.24% and it has increased the rate cut hope on 18 Dec. FII did lot of day trading today as FII average is coming at 5623.

3. NS closed at 5878 after making high of 5886 and low of 5839,Again Today Nifty has formed a double bottom which is a bullish formation and if 5839 is not broken for next 3 days. Yesterday i have discussed of 5841 and today low 5839 and a rally after WPI data came. Nifty is showing sign of strength and shorts should be avoided till 5825 is not broken. When...

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