The Bank Nifty opened with a gap down much below the 50 and 200 dema which remained unfilled through the trading session. This is a bearish indication.The pullback was anticipated with the stochastics reaching over bought zone, which is now in sell mode.. Volumes were very low. The breadth was down in the ratio of 1:3.
If the downmove continues then supports are at 10730-10611-10584-10370. If these supports do not hold then we will see a panic move to sub 9000 levels.
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