Zubu Client Sentiment Nifty50 Report:
It is a Post Market Analysis, by which one can understand Retail trader’s sentiment and discover who was going long and short, the percentage change over time, and whether market signals are bullish or bearish.
Nifty50: Retail trader data shows 51.2% of traders are net-long ,while the number of Retail traders net-short was 48.8%. Nifty closed above 10329 consecutively for two week which was crucial level on the weekly basis.
However we need to be a bit cautious as this is the fourth consecutive day where institutions unwind there shorts and created marginally longs and retailers are also net longs.
- July expiry range is 9900-10700
- Medium term trend – Till Nifty is holding above 10000 on weekly basis we are bullish on Nifty.
- Long term trend – As we previously also mentioned that as long as Nifty is holding above 9658 on weekly basis we are bullish on Nifty.