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 49.9% of traders are net-long ,while the number of Retail traders net-short was 50.10%. Nifty closed above 10329 consecutively for two week which was crucial level on the weekly basis. And now it’s started this week on the up note. From the past few week we were saying that Nifty is is likely to hit 10750 if it stays above 10329 on the weekly basis and today was the day.
Now we can see that this is the fifth consecutive day where institutions unwind-ed there shorts and created decent longs while retailers unwind-ed there longs and created new shorts.
- July expiry range is 10300-11200
- Medium term trend – Till Nifty is holding above 10458 on weekly basis we are bullish on Nifty.