Description
⋅ The Resistance Lines are only secondary to this chart study.
The key factor is that FII's are still selling and the DII's fuel is running out to keep the index alive.
Check the FII outflow and Index correlation on the below image.
i.imgur.com/hgKix5r.png Comment
⋅ The FII's continued to sell today.
When I suspected last week the DII's were running out of fuel, I did not expect them to run dry this soon, today's DII's net value down to 20 crore.
i.imgur.com/3lvBe47.png Comment
⋅ FII's continues to sell and the outflow is at -800 crore today.
Waiting to see if the FII's and Nifty correlation will stand for tomorrow.
The DIIs chip in another 430 crore and tie it to a major support line of 8185 for today. Will 430 crores hold the index for tomorrow ?
i.imgur.com/vyB8QpV.png
19 companies that contribute 70% of index weight-age has not seen much of a move today, most of them closing below their opening and closing ranges.
i.imgur.com/AmBnj1g.png
Waiting to see if the FII's and Nifty correlation will stand for tomorrow.
The DIIs chip in another 500 crore and tie it to a major support line for today. Will 500 crores hold the index for tomorrow ?
i.imgur.com/vyB8QpV.png
19 companies that contribute 70% of index weightage has not seen much of a move today, most of them closing below their opening and closing ranges.
i.imgur.com/AmBnj1g.png