Bank Nifty- Solid gains lost to weak global cues
Bank Nifty made some bold strides today till the closing hours succumbing to global cues and frantic selling. VIX shot up to 17.78 with a gain of 6.05%. FII+DII sold for a hefty 1475cr--much of it having a bearing on bank nifty. Only small positive for bank nifty is that it closed at similar level as yesterday. PCR at 0.77 continues to reflect option writer's sentiments of downside expectation.
Below 38399, bank nifty is likely to correct further with next support at 37457.
If it manages to break above 38475, bank nifty could resume upwards move towards 38743 resistance level, taking support at 38458/38475.
Do you think bank nifty can rally a breakout again tomorrow?
Below 38399, bank nifty is likely to correct further with next support at 37457.
If it manages to break above 38475, bank nifty could resume upwards move towards 38743 resistance level, taking support at 38458/38475.
Do you think bank nifty can rally a breakout again tomorrow?
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