FII Data Analysis for 13- Jan

• FIIs bought 4636 contracts of Index Future (sold 410 long contracts and 5046 short contracts were covered) with net OI decreasing by 5456 contracts at same time Nifty gain 3.1 points and closed at 6171.45 (Spot)  Vs. 6168.35 (Spot) previous close.

• FIIs covered some short position and nifty took support suggest if FIIs starts short covering then some sharp bounce back is possible from here. And if FIIs continue to adding new short position from here then further correction cannot be ruled out.

• Nifty spot has resistance at 6250 – 6300 & support at 6140 – 6098. If support broken and nifty close below support levels then some more down side is expected.