#banknifty- could not hold gains, likely to test 36900?

23 ก.พ. 2022

banknifty lost all the strength to some agressive selling by FIIs 3417cr, compared to 3024cr bought by DIIs--who tried to hold market up through most of the day. Sentiments are clearly bearish given the global situation and DIIs will not be able to hold on for long given the FII aggression. PCR at 0.73 indicates fear of more downside. VIX came down but still remains at 24.54 which is high. Markets can move violently on any news. Charts show that it is ready to move down a bit more. 36900 is a critical level to watch and if broken, the strongest support will be 200EMA --which certainly shouldn't be tested tomorrow. Any move up will be an opportunity for people looking for exit. What do you think?