Nifty after closing above 8000, gave a good rally and opened with good gap up today and got consolidated within previous day high range, which brought in the bullishness to it. Post lunch there was a good follow up to move above 8100, to make a new day high at 8137.
Previous resistance at 8141 and also good sloping UTL gave a decent resistance for this rise and nifty closed just below 8100. Broader market was very good today with 1024 advances to 445 declines.
Nifty has resistance at 8125-41 zone and support at 8064-33, need to see tomorrow's price action at these critical juncture.
FII -- Even today, covered their longs and shorts in futures and good addition in Index call longs today.
Clients -- Good addition in index futures on long side and in option front they are looking for a down day.
PRO -- Good Addition in longs and shorts and in options front they are looking for a green day.
DII -- Huge addition in longs today from DII
Again we have a huge back up for longs from many of our participants yesterday and today. So the major trend is slowly changing gears to longs, but at the same time can't ignore the sharp falls in between, since FII's have not yet started to buy either in cash nor in Futures.
Expecting a Dip again towards 8000 and will look for any buying interest from FII.. till then I would sell the rise and buy the dips.
Happy trading
Previous resistance at 8141 and also good sloping UTL gave a decent resistance for this rise and nifty closed just below 8100. Broader market was very good today with 1024 advances to 445 declines.
Nifty has resistance at 8125-41 zone and support at 8064-33, need to see tomorrow's price action at these critical juncture.
FII -- Even today, covered their longs and shorts in futures and good addition in Index call longs today.
Clients -- Good addition in index futures on long side and in option front they are looking for a down day.
PRO -- Good Addition in longs and shorts and in options front they are looking for a green day.
DII -- Huge addition in longs today from DII
Again we have a huge back up for longs from many of our participants yesterday and today. So the major trend is slowly changing gears to longs, but at the same time can't ignore the sharp falls in between, since FII's have not yet started to buy either in cash nor in Futures.
Expecting a Dip again towards 8000 and will look for any buying interest from FII.. till then I would sell the rise and buy the dips.
Happy trading
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