It is always seen that Futures Price is higher than spot price, but today Nifty March Future is closed below the spot price. NIFTY MAR FUT = 7367.95 and spot NIFTY = 7368.85. Does it mean I can go long on Nifty for tomorrow.
Ideally, the price of Futures should be higher than the price of the Spot market because
Futures = Spot + Cost of carry
But there are times when the sentiment for a stock/index turns bearish, that is people feel that the prices in future will be lesser than the current market price. This is what gets factored in, and you see the futures see at discounted price.
This however doesn’t imply that you have to go long on Nifty