Bank Nifty- Bullish candle above 200EMA

٣ يناير ٢٠٢٢

Nifty made a bullish candle above 200EMA. Aggressive buying by FII 903cr and DII 803cr. ensured a one sided move up. PCR increased to 1.36 from 0.97 indicating bullish sentiment among option writers. If Bank Nifty sustains above 36479 then we could see higher levels of 37457- looks quite likely if FIIs continue to buy.
CPR is wide so we could see consolidation- it will also act as a major support for upwards move.