Banknifty sentiment analysis for today-Read More
Hello Traders good Morning!
> Yesterday we where expecting the market to take a pullback into the previous day open gap but Market continued to take support just few points below the open. This is because short's covered their position with profits from gap down. Which have later became the level for the market. Last two days sentiment was very good in our markets. If market would have given a good pullback new buyers would have pushed the market up strong so that the trend would have continued with a strong momentum towards upside. But now due to crypto volatility and world market's negativity new buyers to be skeptical about being long. This could reduce the bull's into half. therefore I suspect the bulls showing interest to buy at yesterdays level. Today we are more likely to open flat. shorting from over bought can be profitable.
> Would market US & Europe are negative.
> Asia mix of green & red
> FII & DII both sold in cash yesterday
> FII's where buyers in futures but the net amount is less
> OI Resistance @ 34000 & support @ 33500 & 33000 since expiry we are taking next week data also
> Next week OI Data, Same as this week resistance @ 34000 & support @ 33000
> Trade safely & responsibly
> Practice proper risk management
* Tip provided for educational purpose only.
> Yesterday we where expecting the market to take a pullback into the previous day open gap but Market continued to take support just few points below the open. This is because short's covered their position with profits from gap down. Which have later became the level for the market. Last two days sentiment was very good in our markets. If market would have given a good pullback new buyers would have pushed the market up strong so that the trend would have continued with a strong momentum towards upside. But now due to crypto volatility and world market's negativity new buyers to be skeptical about being long. This could reduce the bull's into half. therefore I suspect the bulls showing interest to buy at yesterdays level. Today we are more likely to open flat. shorting from over bought can be profitable.
> Would market US & Europe are negative.
> Asia mix of green & red
> FII & DII both sold in cash yesterday
> FII's where buyers in futures but the net amount is less
> OI Resistance @ 34000 & support @ 33500 & 33000 since expiry we are taking next week data also
> Next week OI Data, Same as this week resistance @ 34000 & support @ 33000
> Trade safely & responsibly
> Practice proper risk management
* Tip provided for educational purpose only.
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