Nifty & FIIs Data Analysis for 21 Aug 2014
- FIIs bought 7032 contracts
of Index Future (bought 2777 long contracts and 4255 short contracts were squared
off) with net OI decreasing by 1478 contracts. FIIs were net buyers on yesterday.
- Nifty made fresh
new life time high and formed bearish engulfing Candlestick pattern suggest probable
red signal for the bull camp. Also the Gann fan showing nifty is at resistance
zone and on hourly chart nifty broke the channel suggest bearish signal.
- If we observed in last
rally of nifty it’s took 8 trading session and fall down. Now in this rally 8th
trading session over and nifty almost rallied 382 points & took pause in
bull rally.
- Nifty may fall and retrace
in next 1-2 trading sessions and possible target comes at 7800 – 7785. This downside
possibility is invalid if nifty open & trade for one hour above 7920 then
upside rally possible up to 7960 – 8000.
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