Nifty is on slight bear note to close at 7,424.65 Down 13.10 (-0.18%) made a high of 7,468.85 and low of 7,409.6. So today on upside first resistance is at 7457-62 level. All the Indices are clearly trading above these levels indicating a clear buy trend. Moreover, FII’s have sold nearly 15k crores in Cash segment and over 3.8 k crores in the derivative futures segment so unless until FII’s is not started making position in NIFTY its difficult to cross 7500 level. As short term we are bullish in market with target of 7540.
Intraday NIFTY view:
We will buy nifty for short term.
7,436.25 UP +4.90 (+0.07%)
FII’s and DII’s position:
Fii Activity in Equity :RS.– 961.82 Crores
Mf Activity in Equity :RS. + 394.22 Crores
Fii Activity in Nifty Future :RS. – 1597.81 Crores
NIFTY Future Levels: Watch NIFTY LIVE signal
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BankNIFTY Future Levels: Watch BankNIFTY LIVE signal
As the nifty open interest data shows proprietary’s and FII’s have the mixed view in markets. FII’s has the Sell position towards the market and Proprietary’s has the buy position. so looks tomorrow market will be volatile so but below average holding. On other side DII’s have the sell position. Market sentiment is short term bullish. we expect market will give some buying till 7540 so be caution while making any position in NIFTY and BANKNIFTY.