Bank Nifty- Breaks down below 20EMA and 100EMA
Bank Nifty had broken above 20EMA and 100EMA, today it reversed yesterdays action completely.
With strong downward bias, and the pressure of expiry day out of the way, we could witness a round of profit booking while investors wait for a consolidation phase to kick in.
FII selling pressures will only add to the downward move.
Below 37024 level, next supports are 36591 and 35997. Do you also forsee the same or expect an upmove instead?
With strong downward bias, and the pressure of expiry day out of the way, we could witness a round of profit booking while investors wait for a consolidation phase to kick in.
FII selling pressures will only add to the downward move.
Below 37024 level, next supports are 36591 and 35997. Do you also forsee the same or expect an upmove instead?
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.