So after the dull and boring session on Monday we have had two exciting days of activity and the directional move we spoke about in the post here has shaved off 600 points in the Bank Nifty and about a 120 points in the Nifty from high to lows.
The seller has been dominant through the Banks and despite Infosys and Reliance returning stellar performances, the fact remains that we are more closer to 6000 now than 6300 !
Here’s a look at what our orderflow indicators are doing during the day :
and the Bank nifty :
The buyers were largely unimpressive today and despite a strong move from 6085 levels, were not able to get past the crucial 6124 levels.
11380 would be to the Bank Nifty what 6124 is to the Nifty.
Value areas :
Bank Nifty – 11450-11382-11368
Let’s see where the auction ends tomorrow.