#banknifty Green candle closes higher than last week's doji
banknifty made a green bullish candle and closed higher than previous week close. Despite the global uncertainty the index has held on to its level and managed a gain. PCR at 1.02 reflects the sentiment. CPR tomorrow is 54pts and indicates a trending day. India vix shot up to 22.9. Attention to news will be most critical driver till the uncertainty remains. Banknifty continues to trade above 50/100/200EMAs on weekly chart and remains in bullish zone, expect it to hold 17k support level. Chart will be worrisome if EMAs are breached on weekly chart. Till then banknifty needs to weather the storm. Caution is critical. Lets see which way the news flows tomorrow. what do you think?
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