banknifty -more consolidation before a break away towards 39k?

10 באפר׳ 2022

banknifty consolidated in a range for third day even though it made a green candle. A break out is required to show it has strength to move towards 38k/38.5k/39k and beyond. If FII/DII buying commences on Monday as a result of falling Vix, then we could well see the breakout sooner? Nifty looks much stronger at the moment. Both have a narrow CPR tomorrow, so a trending market is expected. What do you think?