Banknifty- red candle, remains below 50/100/200EMA
VIX went up by 4.1% & FIIs sold for 1250cr Vs DII buying only 98cr. So despite crude plummeting below 104USD, net impact on the market was a sharp downward move and close remained below 200EMA. We can expect a followup Red candle tomorrow. However PCR is 0.77 (was above 1 yesterday) indicating we could see an upmove, global markets have recovered and crude has fallen to 98USD. If FII selling continues, we could have a followup red candle tomorrow. A gap up opening tomorrow could see a profit booking/sell off. What do you think?
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