Are you really confused by seeing the drama today. First market move unexpected upside and didn't sustain. Nifty is forming expanding triangle pattern. I think at 5865 the fall should stop and it may not tasted tomorrow also and expect a big move tomorrow also. But If 5865 broken, the next support is at 5837 level and consider this level as trend reversal level. So long term bull player must consider this level as stop loss. If nifty spot price move above 5930 then expect higher move and bull may take this hight up to 5990-6060 and 6126. In expanding triangle pattern bulls and bear both will confuse. Intraday trading will be difficult for few days.
FIIs bought index future worth rs 487.18 cores and open interest increased by 1% indicating that Fresh long position has been made by Fiis today. We may see more unexpected up move in coming time. But use this rally to exit from your long time investment only. Don't forget this is fifth wave of B wave rally. Market will turn only after making each and every person bullish. let see what happen. According to Nifty option open interest data 6000 call has highest open interest so expect this level as hurdle in near term. After breaking this level sky is unlimited option wise. let see............
GOOD LUCK
