The Nifty did enough on a neutral center day to keep both buyers and sellers interested for the coming session and with even chances.
For the day a pull back towards POC and the bounce towards 4800 was in keeping with the trend from yesterday and the fact that buyers were in control. However a quick sell off from the same 4800 level, showed seller intent.
Even though we managed a close above the pull back low of 4739, the seller had done enough to show that he may target lower levels of 4708 tomorrow.If that does not hold then we may see 4650 all over gain.O the plus side the buyer needs to move the market quickly above 4795 tomorrow to maintain momentum.
Value was created sideways and the profile had a fairly prominent POC at 4755 which increases the odds of a visit there, gap or no gap.The blue lines and the brown dotted lines in the chart are all area of interest for the mkt in the coming sessions.
The BankNifty was a better index of the two when it came to maintaining the momentum on the long side. Even though there was a sell off in the BN from the highs, the index is pointing higher .
Value was also created higher and good volumes were seen at 8449 and 8341.