protrader1969

NIFTY for 02 June

NSE:NIFTY   Nifty 50 Index
Nifty finished with yet another green candle with HH and HL than previous candle. Nifty is above and closed outside the upper band of Bollinger band which if global cues aren't good tomorrow can trigger selling. FIIs were Net buyers (1575 Crs ) by impressive margin and DIIs were net sellers (459 Crs ) in Cash segment. FIIs were net buyers in index futures (136 Crs ) but net sellers in stock futures (351 Crs ). This means they are assured about far future but unsure about near or short term and hence volume in futures not impressive. Today's move created a selling area which can be used for short selling tomorrow as marked on chart. One can SELL between 9900 and 9931 with SL as 9940 for a gain of around 100 points. Buying area remains as told yesterday.

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