NIFTY trading in exactly as written with exact levels as nifty is on the channel resistance and could not close above it though gap up opening nobody is interested in covering shorts and 5200 is acting as resistance now if nify trades above 5190 it can go till 5225 where again it can resist and drift down if nifty trades below 5170 levels it shall be week and could drift down to 5140 levels Inflation to be announced on Friday also in downtrend markets usually retraces 61.8% and then again start falling so to hold 5190 is very important but positional short should not be created above 5070 levels. Today FII are seller with low volume while DII are net buyers most active CE are 5200 – 5300 while most active PE are 5200 – 5100 with highest openinterest.
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