FII’s bought 19.3K contract of Index Futures worth 714 cores (34.6 K longs were added and 15.3 K shorts were added in Index Future) with net OI increasing by 50 K contracts.FII’s went aggressively long in Index Futures, are they preparing themselves for RBI policy on 3 June.
Nifty is forming a triangle on daily charts, height of triangle comes at 434 points. Now to complete the triangle formation market has to give one rally on upside near 7380-7400 zone. triangel patterns so success is about 50% so caution is advised.
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