Double Top at 8605

Nifty opened on a positive note and consolidated till 1 pm. Later it swiftly fell on back of some huge selling and closed near day’s low at 8509.

In the cash segment Foreign institutional investors (FIIs) were net buyers to the tune of Rs 599 crores and Domestic institutional investors (DIIs) were net sellers to the tune of Rs 439 crores.

In FNO segment, FIIs bought 12,774 contracts of Index Futures and 2,360 contracts of Index calls.
They also bought 6,477 contracts of Index puts.
DIIs  are still net short by 14,774 in Index Futures contracts.

Nifty Put Call Ratio (PCR) data shows support at 8400 and Resistance at 8600.