{LONGTERMINVESTORS} Nifty rallies once 7462 is broken,EOD Analysis

• FII's bought 23.9 K contract of Index Future worth 1327 cores ,20.4  K Long contract were added by FII's and 3.4  K short contracts were liquidated by FII's. Net Open Interest increased  by 17 K contract, so rise in market was used by FII's to enter  long and  exit shorts in  Index futures. Every Success Story Is Also A Story Of Great Failure
  

As discussed in Last Analysis We need a close above 7462 for market to reach the next target of ABCD pattern @ 7521.  Now range of 7460-7480 should be watched closely as closing above it can see nifty moving in 7550-7575 range where we have strong supply, Nifty opened near gann arc as shown below and started recovering and once move above 7462 rallied

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Rgds,

Bramesh

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