Bank Nifty 13-7-2021Bank Nifty is looking quite bullish as Nifty 50 is also bullish but one thing that you should remember is that the Bank Nifty is considerably weak then Nifty 50. So you can expect a bullish view tomorrow. A gap up is expected because
1. There can be a break out due to ascending chart pattern that I analyzed in previous analysis. So keep an eye out their.
2. After analyzing the option chain we saw that the call writers exited their shorts in huge and amount and their is a short buildup heavily on the bullish or put side.
3. The PCR is 1.18 which is slightly overbought this is one of the reason why Bank Nifty is weak than Nifty 50.
4. The Bank nifty has gave a great closing of above the dangerous level of 35500 which is quite a bullish sign.
Now, the major(Yellow) and immediate(Blue) supports and resistance zones are give below. You can have a bullish view for tomorrow.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
