EOD Indices data review for May 26, 2021
Third highest closing on Nifty, while BNF being shy on crossing Mt. 35k.
34950 seems to be an important Fibo level on BNF and we are seeing it respecting the same since the beginning of thus week, while it does so Nifty IT and NBFCs (FinNifty) showed up to support the prices.
With an overall reduction in Short positions on Nifty the PCR has ended at 1.38, while the same settled at 0.79 for BNF.
There are lot of shorts in the system which are still trapped at lower levels, specially on Nifty, their covering could make way for ATH levels.🤞👍🙏🏻