Nifty- FIIs know something that we don't ?
Nifty faced resistance on Monday at R1, breached central pivot on Tuesday, took support at S1 on Wednesday and took support at S2 on Thursday. (all weekly pivot levels) Nifty had a sharp downward journey through the week without pullbacks. So maybe a pullback is possible in the next sessions with prices approaching the 20EMA. However the downtrend journey of Nifty to around 17569 as next support seems a possibility next week.
"Sell when the markets are at a high and buy when chips are down". FIIs know this and retail investors too know this. For past several weeks, FIIs continue to sell as retail investors and DIIs continue to buy.
Do FIIs gauge that the market is high enough and retailers/DIIs feel market might be going up further?
Which way will the markets go finally only time will tell.
Maybe time to exercise caution and start being selective? What do you think?
"Sell when the markets are at a high and buy when chips are down". FIIs know this and retail investors too know this. For past several weeks, FIIs continue to sell as retail investors and DIIs continue to buy.
Do FIIs gauge that the market is high enough and retailers/DIIs feel market might be going up further?
Which way will the markets go finally only time will tell.
Maybe time to exercise caution and start being selective? What do you think?
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