#banknifty closing below 100EMA after 5 days
banknifty closed below the 100EMA indicating fresh weakness, despite making a large green candle. Close for previous 5 sessions was above 100EMA. Much of the pullback was thanks to DII buying for a whooping 4109cr, compared to FII selling of 3246cr. Looks unlikely that the DIIs will be able to support the market if the sentiments do not improve. VIX at 26.7 is quite worrying and markets can correct some more from here and take support at 200EMA. what do you think?
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