Nifty & FIIs Data Analysis for 14 Aug. 2014

• FIIs bought 18455 contracts of Index Future (bought 27460 long contracts and 9005 short contracts were added) with net OI increasing by 36465 contracts. FIIs were net buyers on today.

• Though IIP and CPI data was disappointed but the market turns into the green and closed above 20 days SMA suggest bullish in nature. We observed market was rising but some stocks were corrected badly which is not a good sign for bulls.

• We may see 7695 – 7675 (spot) as an important support zone and at upside 7790 – 7825 (spot) is a resistance zone.