Nifty going towards 17670, close above 50/100/200EMAs
Nifty breached the camarilla R3 and closed above it. Also closing above 50/100/200EMAs with a big bullish candle. This rally was despite a net selling of 218cr by FII/DIIs...with FIIs buying for 384crs. PCR is 0.76 and CPR is 96pts wide. Nifty could sustain the gap up and consolidate tomorrow, with a rally towards 17670. Softening of crude and rally in global markets has provided the impetus for an upside move. Sentiments remain positive in indian markets despite the obviouos worries related to war and vix remained high at 24.07. We could see further reduction of vix and rally continuing tomorrow. What do you think?
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