Bank Nifty- breakout on chart
Bank Nifty made a big bullish green candle staying comfortably above 50EMA/100EMA and 200EMA. In the process it breached 37457 critical pivot level with a big bullish candle.
PCR remained bullish at 1.48 with option writers comfortable writing puts. Max pain expiry level as per option data is at 37400.
Resistance levels to watch for on the upside 38105/38596/38832.
Support levels are 37438/37287...
FII+DII have bought today again for 1609cr. In the 3 trading sessions in Jan 5121cr is net buy by FII/DII.
On the downside we do carry risk of Omicron fear factor & news based fear reaction. Also is risk of FII/DII turning net sellers!
CPR is wide, it will act as a support & we could see some sideways market.
As of now indication of a fall is unclear...what is your view ?
PCR remained bullish at 1.48 with option writers comfortable writing puts. Max pain expiry level as per option data is at 37400.
Resistance levels to watch for on the upside 38105/38596/38832.
Support levels are 37438/37287...
FII+DII have bought today again for 1609cr. In the 3 trading sessions in Jan 5121cr is net buy by FII/DII.
On the downside we do carry risk of Omicron fear factor & news based fear reaction. Also is risk of FII/DII turning net sellers!
CPR is wide, it will act as a support & we could see some sideways market.
As of now indication of a fall is unclear...what is your view ?
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