Nifty Opened with huge gap up and above Previous day high and also the strong resistance of 8152. Sad part was it couldn't sustain at the higher price and was sliding all the way below to 8000. Finally closed at 7965.35 with loss of huge 159 points.
Break-out point of 10-06-2015 8115 was taken out in a flash, which alerted the sell off. Now since it has closed below 8000 which is the key reference number for this bull run; bulls need to come back above this number as soon as possible, else bears are going to run the show for some more days or even months.
Yesterday the closing was very positive gave the impression of morning star, but today it has wiped out everything. Since tomorrow is weekly closing, it needs to close above 8102 (developing - if there is new low tom this number will change) which is weekly low EMA,crucial factor. Last week on Friday, Nifty went all the way to then weekly low ema of 8172 but at EOD closed below to it suggesting more falls this week, now again the same thing can repeat or will it close above it? need to watch this tomorrow.
FII -- Today there is some buying and selling unlike yesterday; both longs and shorts are added up; Net longs up by 2735 Contracts
Clients -- Same like FII, both longs and shorts added up, net longs up by 8836 Contracts
Pro -- Even they have added longs and shorts; Net shorts 33,170 contracts.
DII -- Taken longs and squared some of their shorts; Net Shorts 26,759 Contracts.
FII and Clients both are seeing a two way route tomorrow. since today was a huge day, tomorrow can be a consolidation day moving both sides, unless there is any global pressure to sell off.
Key Level for tomorrow: 8000-8008
Happy trading.
Break-out point of 10-06-2015 8115 was taken out in a flash, which alerted the sell off. Now since it has closed below 8000 which is the key reference number for this bull run; bulls need to come back above this number as soon as possible, else bears are going to run the show for some more days or even months.
Yesterday the closing was very positive gave the impression of morning star, but today it has wiped out everything. Since tomorrow is weekly closing, it needs to close above 8102 (developing - if there is new low tom this number will change) which is weekly low EMA,crucial factor. Last week on Friday, Nifty went all the way to then weekly low ema of 8172 but at EOD closed below to it suggesting more falls this week, now again the same thing can repeat or will it close above it? need to watch this tomorrow.
FII -- Today there is some buying and selling unlike yesterday; both longs and shorts are added up; Net longs up by 2735 Contracts
Clients -- Same like FII, both longs and shorts added up, net longs up by 8836 Contracts
Pro -- Even they have added longs and shorts; Net shorts 33,170 contracts.
DII -- Taken longs and squared some of their shorts; Net Shorts 26,759 Contracts.
FII and Clients both are seeing a two way route tomorrow. since today was a huge day, tomorrow can be a consolidation day moving both sides, unless there is any global pressure to sell off.
Key Level for tomorrow: 8000-8008
Happy trading.
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