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.