Bank Nifty- 7th consecutive close below 200EMA
Bank Nifty made a red candle today, despite buying by both FIIs +207cr and DIIs +567cr --which indicates some worry.
PCR dropped today to 0.93 indicating reluctance of option writers on Put side.
CPR is almost a single line with almost no width--indicates a trending day. Will Bank Nifty find institutional buying support to breach the 200EMA or will we see some offloading and profit booking on the back of a higher close today---i would go with the latter--we should see some downward move. Lets see how markets go tomorrow.
**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.
PCR dropped today to 0.93 indicating reluctance of option writers on Put side.
CPR is almost a single line with almost no width--indicates a trending day. Will Bank Nifty find institutional buying support to breach the 200EMA or will we see some offloading and profit booking on the back of a higher close today---i would go with the latter--we should see some downward move. Lets see how markets go tomorrow.
**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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