Thursday, August 3

Nifty ready for big move,EOD Analysis

  • FII's sold 13.8 K contract of Index Future worth 1060 cores ,146 Long contract were added by FII's and 13.9 K Short contracts were added by FII's. Net Open Interest decreased  by 14.1 K contract, so fall in market was used by FII's to enter long and enter short in  Index futures. FII's Long to Short Ratio at 2, FII's continue to add shorts time to be  What not to do in Bull Market
  • As discussed in last analysis  New Time cycle started today so bulls should hold 10000 for bullish move to continue, break of 10000 bears will become active and push nifty towards 9930/9850.Now fresh long should be taken above 10090 for a move towards 10250-10410    High made today was 10128  so nifty broke 10090  before RBI Policy,and till its trading above 10090 can head towards 10191/10250/10400. bearish below 10000 for a move towards 9930.

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