The Fii's bought contracts of Index futures for the first time in this series.Albeit nothing fancy, but still can give a ride of 80 to 100 points in this wait and watch, low volume market.The bears were not able to take control and take the index down. However if they do manage to drag it below 6656 then we should see some serious downside.The bears were not able to do it with the nifty closing below 20 DMA for 4 days in a row, will they do it now???
Intraday Resistance of NIFTY are 6732.6 : 6760.1 : 6822.7 : 6839.9 and Intra day Support of NIFTY are 6666.1 : 6638.6 : 6577.1 : 6560.3. The turning point would be 6745 in futures and 6708 in the spot market and below 6715 in futures for the down side and 6690 spot.But then the question is this market going any where soon before the results or at least the exit polls come out?
Intraday Resistance of NIFTY are 6732.6 : 6760.1 : 6822.7 : 6839.9 and Intra day Support of NIFTY are 6666.1 : 6638.6 : 6577.1 : 6560.3. The turning point would be 6745 in futures and 6708 in the spot market and below 6715 in futures for the down side and 6690 spot.But then the question is this market going any where soon before the results or at least the exit polls come out?