Nifty-closed above 100EMA with a strong green candle but ..
Nifty managed to breach 100EMA on daily chart with a strong green candle. But is there enough steam to sustain this pullback? The FII/DII balance tomorrow will define the move again.
The next level of resistance is 17375. On the downside, next support is at 17001 & 16724.
FIIs selling was matched by an equally strong show by DIIs which helped the market move up. Will we see profit booking tomorrow and strong selling by FIIS?
The PCR 0.77 is showing bearishness while vix crashed by 8% to 18.46. CPR for tomorrow is expected to be quite narrow, so a trending day could be in the offing....up or down...let us wait and see.
Pointers are towards a strong down move.
The next level of resistance is 17375. On the downside, next support is at 17001 & 16724.
FIIs selling was matched by an equally strong show by DIIs which helped the market move up. Will we see profit booking tomorrow and strong selling by FIIS?
The PCR 0.77 is showing bearishness while vix crashed by 8% to 18.46. CPR for tomorrow is expected to be quite narrow, so a trending day could be in the offing....up or down...let us wait and see.
Pointers are towards a strong down move.
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