Nifty Futures Technical Analysis - Intraday and Positional Trading calls

1. FIIs sold 8319 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 254 cores with net Open Interest decreasing by 6193 contracts.
2. As CNX Nifty Future was up by 8 points with Open Interest in Index Futures decreasing by 6193, so FIIs have booked profit  in Nifty and Bank Nifty Futures.Rise which we saw in first part of January was not backed by volumes and no major conviction buying by FII.

3. NS closed at 24 month high 6016 aft..

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