Bank Nifty- Doji at 50EMA, strong resistance at 20EMA
Bank Nifty is undecided at 50EMA-- will it take support and bounce? The late surge on friday might suggest a gap up and upward momentum.
Purely looking at chart, there are quite limited signs of a reversal from downtrend. This was helped by very low selling pressure of FIIs on friday. Will we see some renewed selling pressure on Monday? Put call ratio suggests calls are winning over puts, so there seems to be a bearish bias.
Let us see how the markets react to the gap up opening that is expected. Do you see further correction?
Purely looking at chart, there are quite limited signs of a reversal from downtrend. This was helped by very low selling pressure of FIIs on friday. Will we see some renewed selling pressure on Monday? Put call ratio suggests calls are winning over puts, so there seems to be a bearish bias.
Let us see how the markets react to the gap up opening that is expected. Do you see further correction?
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