{LONGTERMINVESTORS} Nifty break out of range of 247 points, EOD Analysis

• FII's bought 31.7 K contract of Index Future worth 2066 cores ,35.2 K Long contract were added by FII's and 3.5 K short contracts were added by FII's. Net Open Interest increased  by 38.8  K contract, so rise in market was used by FII's to enter long and enter shorts  in  Index futures. How to recover from Losing Streak
  

 As discussed in Yesterday Analysis   Nifty is forming the last leg of shark pattern holding today's low we can move towards 8710 again to complete the pattern. Nifty showed  impulsive move as we were expecting as it closed above 8577 and also shark pattern last leg formation and gann impulsive date also as discussed in Weekly anslysis. Also Nifty has broken the 247 points range of past 26 days as shown in below chart. Bulls above 8723 can see move till 8851/8900. Bulls need to hold 8723 on closing basis else it can be termed as fake breakout.   Bank Nifty fires above 19360,EOD Analysis

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Rgds,

Bramesh

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