Bank nifty trend or trend less?
As I posted last week…bank nifty had spring it’s previous support of the trendline on weekly timeframe..
The trend towards down was too overextended and needed a relief…for now the bullish trend looks weak by the bars being printed..
If you combine the fii data and dii their selling has decreased dramatically…
Why? Mostly fii want a pullback , it’s always sell high and buy low…no big money will sell lower unless they are dumb…only retailers buy high and sell lower…
As you can see…I am expecting bank to touch 37.5k in the coming days…I would short here only if a good signal bar…till then I will just wait…also the vix is thurh the roof. Which is not good for a option buyer
The trend towards down was too overextended and needed a relief…for now the bullish trend looks weak by the bars being printed..
If you combine the fii data and dii their selling has decreased dramatically…
Why? Mostly fii want a pullback , it’s always sell high and buy low…no big money will sell lower unless they are dumb…only retailers buy high and sell lower…
As you can see…I am expecting bank to touch 37.5k in the coming days…I would short here only if a good signal bar…till then I will just wait…also the vix is thurh the roof. Which is not good for a option buyer
Penafian
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