Nifty closes below 200 DMA,FII FnO Analysis

• FIIs sold  Index Future of 1858 cores with net Open Interest increasing by 43644 contracts,FII have initiated  fresh shorts in index futures with nifty trading near 200 DMA and rupee at all time low.

Nifty has closed below its both short and medium term moving average and have been consolidating in tight range before making an explosive move. This is what we discussed yesterday and we have nifty down 100

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