Nifty & FIIs Data Analysis for 5- Aug 2014
- FIIs bought 7492 contracts
of Index Future (bought 9177 long contracts and 1685 short contracts were added)
with net OI increasing by 10862 contracts. FIIs were net buyers on yesterday.
- Nifty today bounced
back & closed above 20 days SMA which is a good positive sign. Nifty has to
break Friday’s high 7716.70 (Spot) to remain bullish in next session otherwise massive
selling pressure is possible.
- RBI monetary policy
review will be announced by tomorrow so big movement is expected in 1-2 trading
sessions.
- Nifty has
resistance at 7716 – 7740 (Spot) & support levels comes at 7620 – 7585. Nifty
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