Banknifty makes a bullish hammer after taking support at 35k

Mar 28, 2022

banknifty made a strong bullish candle today taking support as per our forecast at 35k level. PCR is 0.78 and CPR is wide indicating a strong downside support. Any gap up has a good chance of sustaining. So there is a good chance of breach of 36k level onwards to 36250. FIIs selling is less with FII/DII net buying at 360cr, Crude prices continue to drop---all supportive of a big move upward. There seems to be more urgency from Macron to meet Putin and end the war. Will we see a big move upwards then tomorrow? What do you think?