{LONGTERMINVESTORS} Nifty forms double bottom, Will it hold after RBI Policy

• FII's sold 21.8 K contract of Index Future worth 1379 cores ,21.6 K Long contract were liquidated by FII's and 0.2 K short contracts were added by FII's. Net Open Interest decreased  by 21.3 K contract, so rise in market was used by FII's to exit  long and enter shorts  in  Index futures. Where learning ends, beginning of practice happens and that is transformation !!
  

 As discussed last Analysis   As we have Weekly Monthly and Quarterly closing bears will like to see Nifty close below 8518 and bears bulls will like a close above 8656. Close below 8518 can see fast move towards 8476/8434. Bullish on close above 8656 only. Nifty made a low of 8555 forming double bottom and also protecting 8518 on

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Rgds,

Bramesh

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