Nifty Bulls gets R-booster, FII FnO Data Analysis

• FII's bought 1.69 K contract of Index Future worth 3897 cores, 156  K Long contract were added  by FII's and 12.7 K  short contracts  were squared  off by FII's. Net Open Interest increased  by 144 K contract ,so FII's added  long and squared off   shorts in Index futures.As per FII OI sheet  117k long index contracts reduced on 6th Jan 156 K long contracts got added today so tit for tat for bears.

This is what we discussed last analysis Nifty  saw an intraday correction which got bought into as it found support at its 21/34 HEMA suggesting underlying trend is bullish. Market generally trades volatile in triangle formation before a breakout/breakdown.Best is to trade less or hold on to existing positions. Trending moves should be seen in next 2 days. As per Hourly chart breakout has...

Continue Reading