EOD Indices data review for May 27, 2021
Congrats to the bulls who held their nerves during the final hours of today's trading session which led to a New High on Closing Basis after Feb 16.
The Bar on daily basis is still on an indecisive side and ended near the war zone 15280-15330, while the same is comparatively bullish on BNF which lead the recovery and triggered short covering among bear holds.
At the end, BNF traders managed to almost double their positions which has resulted in improvement in PCR, marginally, @ 0.83 while for Nifty it remained un-changed at 1.38.
Lot of shorts are still trapped in the system and that gives a comfort for the buying presssure, possibly on dips.
Some aggressive long positions were seen at Mt. 35k on BNF hence protecting 35k is important.👍🤞🙏🏻