Critical Friday awaiting FIIs intervention..As we have seen FIIs are withdrawing en masse, we are nearing the critical support zone of 17857 and 17762. These are 2 critical support where we assume / expect and hope for FIIs to return to buying mode or go into neutral mode. If they return or stop aggressive selling NIFTY can restart its journey into positive zone. In case of positive buying by FII and DII the resistances will be 17963, 18015 and 18136. Tomorrow will be an important day for short term trend.
In the long term Macros of Indian economy remain strong. Budget will be detrimental in deciding which sectors will be favoured by investors going forward.
