Nifty-reached 17670 target, what next?

3 apr 2022

Nifty reached 17670 resistance and closed right on the resistance last week. PCR is 1.19 nearing overbought, FIIs bought for unprecedented 1910cr- probably covering shorts? Important ot watch if 17670 level is sustained/breached on Monday, if breached then 18000 level will come quite quickly. Vix has fallen to 18.43, coming below 20 after a long time. This could mean that FII/DII/ long term investments money could return. CPR is narrow so a trending market is expected. Bullish engulfing candle formed on Friday so we could see a followup green candle on Monday. What do you think?