Nifty & FIIs Data Analysis for 13 Aug 2014

• FIIs bought 36214 contracts of Index Future (bought 10668 long contracts and 25546 short contracts were square off) with net OI decreasing by 14878 contracts. FIIs were net buyers on today.

• As discussed in last write up- “FIIs squared off short contracts near support zone 50 day EMA hence one pull back up to 7680-7715 is on cards.” and nifty rallied almost 101 points today and tested above suggested levels.

• After fall of Friday session nifty second time gap up open yesterday. In this series market either open gap up or down till now. IIP and CPI data has disappointed the market and we will see the gap down opening tomorrow.

• We may see 7675-7685 (spot) as an important support zone and at upside 7640 – 7655 (spot) is a resistance zone.