Almost all Major world indices ended in red yesterday and Indian indices like Nifty50, Sensex and Bank Nifty were no exception.
A look at Index Future data shows that combined Futures Positions by FIIs+DIIs are over 40% short and over 38% long which means they are net short now for the first time in this month. Just 1 sessions ago they were 10% net long, so significant winding off has happened.
Global geo-political tensions, rate cut uncertainty by FED, declining Chinese growth and lukewarm results by Banks are the major negative factors affecting the market.
Going by the above, it is expected that there is low chance for upswing in the market anytime soon and any gap up or short upmove can be taken as an opportunity to sell if the price breaches the consolidation zone again.
Happy Trading.
A look at Index Future data shows that combined Futures Positions by FIIs+DIIs are over 40% short and over 38% long which means they are net short now for the first time in this month. Just 1 sessions ago they were 10% net long, so significant winding off has happened.
Global geo-political tensions, rate cut uncertainty by FED, declining Chinese growth and lukewarm results by Banks are the major negative factors affecting the market.
Going by the above, it is expected that there is low chance for upswing in the market anytime soon and any gap up or short upmove can be taken as an opportunity to sell if the price breaches the consolidation zone again.
Happy Trading.
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Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL