NIFTY 50 May Hit Fresh All Time High

٢٨ ديسمبر ٢٠٢٣

A quick look at FIIs + DIIs Index Futures Positions, as on 28 Dec 23, tells us that, taken together, they hold 50.56% Long Positions compared to 32.66% Short Positions which indicates bullish sentiment outweighs the negative sentiment.

Resistance is seen at 21673 which was yesterday's high while Support is seen at 21580 level.

21560 to 21410 is area of consolidation if retracement occurs and heavy selling might start below 21410.

Today being Monthly expiry day of Futures and Options Contracts, lot of ups and downs might happen but going by the Futures Index Positions of FIIs+DIIs, any good dip within consolidation zone will be a good pick up on Long side given the fact that world markets are also upbeat as of now.

Happy Trading.