Nifty- Doji today, Will it reverse from here?
Nifty made a Doji candlestick today with stiff resistance at 100EMA. The pullback could end here and we could see a downward trajectory from here on.
Unless, early momentum takes prices above 100EMA and it sustains- then we could see an upward move signalling the end of correction.
FII DII net at 925cr has been the highest level of buying support that the markets have seen for a long time. So for the second consecutive day FII DII net has been positive. Even with this support we didnt see a green candle today-which indicates that the wider market is indeed worried.
The PCR for the 30th expiry at 0.97 indicates a level of relief from FII selling and possibly expectation of consolidation by option sellers.
CPR is a single line for tomorrow-(almost)--which is a rarity---so expect a trending market?
You may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Friday 24Dec2021 - Vix , FII , CPR & options/ PCR data.
Unless, early momentum takes prices above 100EMA and it sustains- then we could see an upward move signalling the end of correction.
FII DII net at 925cr has been the highest level of buying support that the markets have seen for a long time. So for the second consecutive day FII DII net has been positive. Even with this support we didnt see a green candle today-which indicates that the wider market is indeed worried.
The PCR for the 30th expiry at 0.97 indicates a level of relief from FII selling and possibly expectation of consolidation by option sellers.
CPR is a single line for tomorrow-(almost)--which is a rarity---so expect a trending market?
You may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Friday 24Dec2021 - Vix , FII , CPR & options/ PCR data.
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