Nifty might break last week's low of 5254 - IIFL

Both the short-term trend and intermdiate trend are now trending together on the downside, it indicates that lower levels are likely to be seen over the course of next few days. Talking from a broader perspective, we are already trading in a cycle of lower top and lower bottom, it means that last week's low of 5,254 will eventually be broken.

Sensex August future which shed 135cont in open interest has seen unwinding in yesterday trade.

On option front, BSE100 August 5,300 strike call which shed 600cont in open interest in has seen unwinding in yesterday trade, while put unwinding was seen at BSE100 August 5,300 which shed 8850cont in open interest.

Source : Equity Bulls

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