Bank Nifty -Closed decisively below 100EMA
Bank Nifty made a green candle today but closed below yesterdays low. This is more a continuation of the downtrend rather than a pullback.
The option writers remain happy writing call options, so betting on the downside.
FIIs hardly sold much today (-763 cr) and DIIs bought for 425 cr--so no aggressive move from either side. Still the index could'nt close higher.
The probable move could be downwards with next support just below 36000. Let us see if the markets break the downwards move tomorrow.
The option writers remain happy writing call options, so betting on the downside.
FIIs hardly sold much today (-763 cr) and DIIs bought for 425 cr--so no aggressive move from either side. Still the index could'nt close higher.
The probable move could be downwards with next support just below 36000. Let us see if the markets break the downwards move tomorrow.
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