Bank Nifty- Filled the gap today, 38458 critical support
Bank Nifty filled the Gap and also took support at 38458 as we had indicated in y'day chart. Now the PCR has dipped to 0.73 -option writers fear more correction. FIIs sold for 1391cr/DII bought for 1065cr=net 326cr sold today by institutions. FIIs turned net sellers in jan as well...as they have been for past year. So there would be choppiness and downward pressure on the market. CPR is narrow and so we could see a trending market tomorrow. If the level 38458 is broken then 37457 is the next significant support. If market rebounds -seems less likely-then 38743/38832 are our next resistance levels. Where do you see markets more likely to trade tomorrow?
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