Bank Nifty- 34384 critical support
Bank Nifty closed with a green candle today taking support at 34384 pivot. Worry remains that it is still trading below the 200EMA.
FIIs sold for 1038cr while DII bought for 956cr today. So even without significant selling pressure form institutions, the markets couldnt break away upwards.
PCR is at 1.11 which shows sense of relief from put writers - contra view could be that we could see a downside move sooner.
So we could have bank nifty move sideways given that the CPR is much wider than we saw today.
**For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
FIIs sold for 1038cr while DII bought for 956cr today. So even without significant selling pressure form institutions, the markets couldnt break away upwards.
PCR is at 1.11 which shows sense of relief from put writers - contra view could be that we could see a downside move sooner.
So we could have bank nifty move sideways given that the CPR is much wider than we saw today.
**For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
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