FII Data Analysis for 16- Jan

• FIIs bought 15354 contracts of Index Future (bought 21433 long contracts and 6079 short contracts were added) with net OI increasing by 27512 contracts at same time Nifty gain 79.05 points and closed at 6320.9 (Spot)  Vs. 6241.85 (Spot) previous close.

• FIIs adding long as well as shorts position today, nifty is making symmetrical triangle pattern on daily chart and broken upward slopping trendline suggest bullish sentiment ahead.

• Nifty spot has resistance at 6340 - 6400 & support at 6270 – 6240.