Nifty Bank IndexUpdated BANKNIFTY - holding support line - PCR OI of 0.80 - Next Level
#BANKNIFTY last friday all stock in BANKNIFTY fall. BNF touched bottom trendline and closed above but below 100EMA. RSI was not able to enter overbught zone and breakdown the RSI support trendline.
Put Call Ratio based on Open Interest of Bank Nifty remained in between 0.80 to 1.07 and closed the week with PCR OI of 0.80 which suggests a grip of Call writers with multiple hurdles at higher zones.
Showing Bearish in Technical Parameter:
CCI is treading down from overbought zone
RSI is treading down
MACD is not giving clear signal
ROC is near to 0
Stoch in overbought zone but %k crossed %D from above
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Support : 22040 and 21700
Breakdown : 22300
CMP : 22398
Breakout : 22500
Short Target : 23000 and 23500
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Positive & Negative Point:
1) Bullish in Daily chart.
2) Neutral in Weekly chart
3) Bearish in Monthly CHart
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(Disclaimer: This is only for educational purpose.)
Put Call Ratio based on Open Interest of Bank Nifty remained in between 0.80 to 1.07 and closed the week with PCR OI of 0.80 which suggests a grip of Call writers with multiple hurdles at higher zones.
Showing Bearish in Technical Parameter:
CCI is treading down from overbought zone
RSI is treading down
MACD is not giving clear signal
ROC is near to 0
Stoch in overbought zone but %k crossed %D from above
----------------------------------------------------------
Support : 22040 and 21700
Breakdown : 22300
CMP : 22398
Breakout : 22500
Short Target : 23000 and 23500
----------------------------------------------------------
Positive & Negative Point:
1) Bullish in Daily chart.
2) Neutral in Weekly chart
3) Bearish in Monthly CHart
----------------------------------------------------------
(Disclaimer: This is only for educational purpose.)
Trade closed: target reached
Hit the Bottom Target 22040 and breakdown the trendline.
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