Bank Nifty - Indications of reversal with 200EMA support
Bank Nifty has taken support of 200EMA and made a strong pullback on the back of some strong buying by DIIs- 4600cr today. (FIIs sold for 3300cr)
Tomorrow (30nov) will have a narrow CPR- a trending day is expected with a small gap down opening.
If CPR is breached in strong upmove, we could see levels of 36400. Next resistance is at 37753. On the downside, support is there at 34260.
With a 15.6% correction behind it, will Bank Nifty make an upmove tomorrow? Let us wait and see.
Tomorrow (30nov) will have a narrow CPR- a trending day is expected with a small gap down opening.
If CPR is breached in strong upmove, we could see levels of 36400. Next resistance is at 37753. On the downside, support is there at 34260.
With a 15.6% correction behind it, will Bank Nifty make an upmove tomorrow? Let us wait and see.
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