Bank Nifty- next strong support at 33032
Bank Nifty has made a large red candle below 200EMA---this has happened for the first time since sep 2020--when it broke below and stayed for a bit below 200EMA.
Given the strong selling momentum from FIIs continuing, it is likely we could test the next strong support level at 33032.
Low PCR of 0.48 gives a contra indication of a reversal sometime soon as well.
Today some spirited buying by DIIs of 2764 cr pulled up the charts at the very fag end of the day.
Let us see at what level the slide stops tomorrow.
Given the strong selling momentum from FIIs continuing, it is likely we could test the next strong support level at 33032.
Low PCR of 0.48 gives a contra indication of a reversal sometime soon as well.
Today some spirited buying by DIIs of 2764 cr pulled up the charts at the very fag end of the day.
Let us see at what level the slide stops tomorrow.
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