Bank Nifty- Can it sustain the break above 50EMA & 100EMA?
Bank Nifty broke above 50EMA and 100EMA taking support once again at 36479 -making a superb rally. It was backed by spirited buying of 4535cr by DIIs after FIIs pulled the market down at opening selling 7094cr. PCR at 1.1 has flipped from 0.53 yesterday--defensive move by option writers who were forced into short covering today --PUT writing rampant as a defense against the pullback rally--will we see a crush of put writers tomorrow?
Global cues aren't very encouraging so will bank nifty sustain above 37457. There is going to be good CPR support between 37505 & 37102. But is it possible that global cues pull down the market at opening?
what do you think?
Global cues aren't very encouraging so will bank nifty sustain above 37457. There is going to be good CPR support between 37505 & 37102. But is it possible that global cues pull down the market at opening?
what do you think?
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