And YES i still stand by the target 10527 + stoploss hunt and topout (reversal)
FII = -5208.50 (sold) in April
DII = -117 ( sold) April
Now the question is who is buying? Afcourse the retail trader are buying because of their greediness they think that they have already missed the bottom of 7551 low. so rushing to accumulate but end of the day the market is in the RE-DISTRIBUTION zone. According to the pull back rally the NIFTY 50 should touch 10527 plus stoploss hunting by the institutions
FII ACTIVITY IN 2008 CRASH -101,802.57 (sold) for the complete year
DII ACTIVITY IN 2008 CRASH + 72,966.78 ( brought ) for the complete year
FII IN 2020 - 89,069.12 (sold) till April and still have 8 more months to go. I agree that they might buy soon or later this year however the point to be noted is after 2008 selling they are almost going to reach that value in 2020 with 4 months
DII IN 2020 73,484.70 brought till april
Finally the conclusion is that the NIFTY is under severe pressure for crash but the retailers are holding it and FII AND DII are selling slowly since retailers cant give a tough fight with FII &DII.
Technically if you notice NIFTY has broken all the resistance and trendlines now it has only two major resistance which is placed close to 10527 and 12k level this time it my even break this level and defenitely has to go down.
The above statement is just my point of view.
If you all have any please post it