banknifty Likely to bounce back from 37200

7 apr 2022

Banknifty will likely fill the remaining gap and bounce from 37200 and scale higher tomorrow. PCR at 0.71 by then would slide into further oversold ty and support a swift move up. Brent crude has fallen below 100USD after a long wait, and markets should respond favourably to this. CPR is narrow and a trending market should be expected. As vix continues to fall, FIIs should soon become net buyers. DIIs are net buyers today also.