Nifty - 8th May in Support of Bulls

7 พ.ค.

Profit Booking or Sell off by FII has pulled the Nifty down, RBI draft policy added fuel to the sell off in banking + domestic big players called for Sell in Nifty. Any more Selling from FII larger than DII will not see any chart levels and price could fall only. In case FII pause their selling on 8th then good chance for quick spike in Nifty back to ATH - 22750 very quickly. Huge short covering could happen. Reason for proposing this logic is due to RIL at similar support zone and HDFC just above the previous double bottom support.