- Nifty Retests 8750, Buying In Cash Market by FII & DII
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Nifty Retests 8750, Buying In Cash Market by FII & DII
Nifty saw sharp buying in the last few days from its 2 week low of 8530. Strong buying momentum was witnessed last Friday which was confirmed by open interest in the F&O segment as well as cash market data.The buying witnessed before US payroll data is an indication that the Nifty is expected to scale its resistance of 8750, which, if crossed, will take the Index to its next monthly level of 8850-8860.Top 5 gainers were Grasim, Hero Motor Corp, Hindalco, Bajaj Auto and Ambuja cement.Nifty Futures is expected to open at 8760 as per SGX Nifty at 8:10 am IST, which is 54 points above its previous close of 8706.
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