NIFTY SPOT: 7704.25
Once again good day for bulls. Last few days my view was buy dips and proved correct and nifty closed above 7700 crucial levels. Now FII looking for 7800 as per their data.
INDEX FUTURES:
In todays rally FII liquidated 4334 contracts of INDEX LONG positions and 7195 contacts of INDEX short positions squared off. Overall trend is still bullish.
INDEX OPTIONS:
Again FII added INDEX CALL LONG postions and considerable number of contracts of INDEX PUT LONG positions liquidated by them. Aggressive put shorts seen by FII. So i expect further upmove in index and traders should trade with trend. If any intra day dips is good for go long in index especially BANK NIFTY, its the star performer.
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