Bank Nifty - 38811 next resistance

9 Şub 2022

Bank Nifty made a nice green bullish candle heading towards 38811. Helped by DII buying more than FIIs, net buying at 901cr. PCR at 0.88 indicates market no longer harbours fear of a downside, moving into comfort. Vix also went down by 5.74%. CPR is 126pts wide and will support bank Nifty on the downside (below todays close). Expect a trending market to next resistance levels. Max pain on weekly expiry is at 38500, quite close to todays close. So we could see a shifting of max pain to higher levels with the uptrend. Let us see if market indeed continues the uptrend. What do you think?