Bank Nifty- Inside bar candle today
Bank Nifty made a bullish inside bar candle today.
Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457.
FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle.
CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards.
PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside.
FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457.
FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle.
CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards.
PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside.
FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
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