Nifty Today- Prev day gap critical resistance, PDL support

13 apr 2022

Nifty looks bearish with a red candle however the PCR is extremely oversold, so an upmove is imminent. Gap left behind yesterday will act as a major resistance today---even though we may have a gap up opening today-which is between PDH & PDL. Previous day's low has to be broken for any further significant downward move. FIIs have been spooked by inflation fears which at 8.5 are slightly worse than expected and crude has plummetted again. FIIs sold for 3128 cr yesterday. We could have a trending expiry today. What do you think?