Nifty Bank IndexShort
Bank Nifty- Will it breach 50/100EMA to go to 37070?
Bank Nifty made a big red candle continuing corrective move but closed above all three 50/100/200EMA. The momentum on the downside was hastened by DIIs selling for 1376cr, much more than DIIs who sold for 1157cr total selling of 2534cr.
Bank nifty could find good support at 37070/36570. CPR is wide at 216pts. so a gap down opening could mean a major resistance at CPR (38104-38320)
PCR is oversold at 0.53 so contra indicates an upward move soon.
Let us see how markets trade tomorrow.
Bank nifty could find good support at 37070/36570. CPR is wide at 216pts. so a gap down opening could mean a major resistance at CPR (38104-38320)
PCR is oversold at 0.53 so contra indicates an upward move soon.
Let us see how markets trade tomorrow.
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