Bank Nifty- Will it break 37457 level?
Bank Nifty closed below PDC for sixth consecutive session. FII sold for 4680cr and DII bought for 769cr=net 3911cr ensured a big red candle, and. breach of PDL intraday as well.
PCR is 0.74 bearish. CPR is 20pts wide, so a trending market is likely. On the positive side, there is very little to hope for except if buying momentum comes in heavyweight index stocks from institutions.
Looks likely that 37457 will be tested and probably breached. Below that the major support is 36479.
Looks like the downward momentum is too high and one more support will likely be broken. What do you think?
PCR is 0.74 bearish. CPR is 20pts wide, so a trending market is likely. On the positive side, there is very little to hope for except if buying momentum comes in heavyweight index stocks from institutions.
Looks likely that 37457 will be tested and probably breached. Below that the major support is 36479.
Looks like the downward momentum is too high and one more support will likely be broken. What do you think?
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