banknifty takes support of 200EMA, towards 37425?

23 במרץ 2022

Banknifty made a big red candle but took support of 200EMA and closed above it. This is a positive sign. Will the market find momentum to trade towards R3 level 37425, remains to be seen tomorrow. Another positive sign is FIIs continued buying. On the negative side global markets and ukraine issue are on top. Another issue is crude prices which are back above 120USD levels. CPR is 100pts wide and will act as major resistance/support depending upon the opening. Breakdown or breakout will trigger a trending move. What do you think?