Tug of war between Large cap & Broader Market. FII flow the need of the hour.
Large cap likely to move on higher fund inflow, while the broader market moves on Domestic fund inflow. Broader market is recently performing well. We have seen a good break on closing levels for the broader market but has made a shooting star due to late dip in the market. Even the Nifty closed well on the closing basis but below 9700.
Today if the Nifty is not able to close above 9700 and if the broader market again dips in the late evening, it will be a sign of small correction of 2-4% in the broader market and NIFTY may again find support at 9600 and 9630 before it pushes higher.
Will the Broader market pull the Nifty higher or the will the Nifty stay weak to pull down the Broader market? its really a tug of war.