Thread by @commodityfxnews

#FII continued to remain net seller and #DII continued to remain net buyer. YTD #Nifty return is 25.42%. FII remain net seller from Apr'21 onwards (exception Sep month), in total so far #FII sold -41,569.13 cr & #DII bought 51,359.37 cr. Net Net 9,790.24 cr plus YTD.

IN CY 2021 #Nifty gave big moves (high-low) in Feb (1770 pts), May (1190 pts), Aug (1358 pts), Sept (892 pts), Oct (1152) all month positive closing. #FII sold maximum (excluding Nov end final figure) in Oct month. #DII slow down from Aug onward in net figures. Going with

data and monthly set up on chart for #Nifty now 17132-17055 remain a very important level to watch in upcoming month/week/CY. Since Aug, RSI on monthly chart is above 70, which is quite overbought, last time RSI peaked around 82 was in Dec'07, which was the peak of #Nifty for

Dec'07 level was the peak for #Nifty for at least 2 yrs. From Apr'07 till Dec'07 RSI remain overbought above 70 and Jan'08 we knew what happened after that. Something similar happened in Mar'15 also. Still this time it's different in terms of value and support levels, if

#Nifty has made an interim top around 18600 in Oct, and we break 17000 in Dec'21, a correction of approx 2000 pts is due on a monthly candle.Considering, we are in a long bull trend, and predicting such insane counter view is lethal (or may be eating crow later), but having said

that, 1st mean reversion on the index #nifty is due for 16500 and later around 15300/100. '08 happened due to housing bubble, '15 again global crisis. Barring 2020 which was more a black swain event, and nothing to do with financial crisis, more a humanitarian one, 2022 could be

that year when we have numerous is to address going forward, most important is inflation which is still supply side, consumer demand, after shock pandemic in economy and cool off from pent up demand, policy rate changes across the globe, and slow down of QE printing money.

Consider rates bottom out from here (official) and in that case money will flow back from virtual world to real world i.e from stocks to economic activity, headwinds for #equity market remain higher. #Nifty in that case will be saved by #DII or #FII is a Billion dollar Q.

But till than, as long as #Nifty holding 17130/17055 levels on the spot, expect the rally to continued and RSI remain above 70 unless we hit to reality fundamentally or there is a technical sell off start. And as history suggests that will be more brutal, lethal and massive. END

As we break 17055 and closing below it, the general discussion shift to finding support levels from 16800-500 or 16200. But as and if the trend continued, right Q's should be what is an ideal resistance now of this breakout selling? #nifty50 17240 s/l interim, 17575 trending.