apologies for the lack of market updates over the past few daysβIβve been under the weather. Feeling better now and will be back with regular insights soon
Nifty went down by 0.05% and Bank nifty went up by 0.98%
NIFTY ANALYSIS
Nifty again struggling to break the resistance of 23000
Support at 22800 and resistance at 23000 and above
PCR is 0.7 overall and 0.73 around ATM which is neutral to weak
OI of Nifty 50 Futures is up by 1.27% and there is Short Buildup in Nifty Futures
View is still same that is neutral to bearish and if nifty crosses resistance we can look into it
BANK NIFTY ANALYSIS
Bank nifty formed a bullish engulfing candle but bnf is still below its resistance of 49700 β 49800 range
OI of Nifty Bank Futures is down by -2.93% and there is Short Covering in Nifty bank Futures
View is neutral to bearish till it breaks its resistance zone
Letβs see what happens in the market today