Nifty Bears battle to keep nifty below 18k

٥ أبريل ٢٠٢٢

Nifty paused after the fantastic bull move in the last two trading sessions. Today it tried valiantly to cross yesterday's high and then fought to sustain above critical level of 18000. Positive news is that yesterdays' low was intact by a wide margin. PCR at 0.92 contra indicates that there is now ample room for up move before a correction. VIX went up slightly to 18.48. CPR tomorrow is just 34pts wide--so narrow CPR means that a trending day can be expected. Once market takes out todays high, we could see retest of 18200 and then to higher levels. Brent crude shot up pre market to 110 levels but has cooled off to 107USD now. Chart remains quite bullish. Let us see how markets trade tomorrow.