Bank Nifty- Inside bar candle today
Bank Nifty made a bullish inside bar candle today.
Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457.
FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle.
CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards.
PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside.
FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457.
FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle.
CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards.
PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside.
FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.