Bank Nifty- Filled Gap, major resistance at 200EMA
Bank nifty (almost) filled the Gap. Halted at the 200EMA resistance.
This is the fourth consecutive daily candle formed below the 200EMA. The retracement might be over and we could now witness the weakness come back.
The PCR for 30th expiry at 0.77 still shows reluctance from option writers to place bets on put side.
FII sold just 272cr compared to 1196cr buying by DIIs--and yet we saw a red candle...indicaates quite widespread expectation of more correction -or profit booking.
Had FIIs sold for 2000-3000cr or thereabouts, would we have seen a much steeper slide & a much longer red candle?
CPR is extremely narrow tomorrow and we could see a trending market.
For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Friday 24Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
This is the fourth consecutive daily candle formed below the 200EMA. The retracement might be over and we could now witness the weakness come back.
The PCR for 30th expiry at 0.77 still shows reluctance from option writers to place bets on put side.
FII sold just 272cr compared to 1196cr buying by DIIs--and yet we saw a red candle...indicaates quite widespread expectation of more correction -or profit booking.
Had FIIs sold for 2000-3000cr or thereabouts, would we have seen a much steeper slide & a much longer red candle?
CPR is extremely narrow tomorrow and we could see a trending market.
For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Friday 24Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
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