Bank Nifty -Gap up opening inside CPR today

11 בנוב׳ 2021

Bank Nifty closed below 20EMA yesterday. It struggled to clear 39075 - so that is a level to watch out today also- will bank nifty sustain above this level after a small gap up opening? Once Bank Nifty opens inside the narrow CPR, a breakout or break down are both a possibility-once the BC/TC are breached. Narrow CPR also indicates a trending day. There is chance of a bounce back as 20EMA will try to act as a magnet on price. Or, prices might go further down and take support at 50/100/200 EMA...let us see. So which way do you think bank nifty will decide to go?