EOD Indices review for June 8, 2021
Nifty and BankNifty continue to broaden the divergance with former being the favourite among the bulls and the later being in bear's grip.
35500-35550 and 35000-34950 are acting as the War zone on the respective sides (up/down) for BankNifty.
15700-15690 looks important to be held even when BankNifty tries its mischief😉
PCR on BNF has ended at 0.60 which is the lowest level after April 12, hence could appropriately be termed as oversold. While the ratio softened a bit on Nifty as well to end at 1.30
The oversold PCR with prices near the support zones, could make a case for quick bounce back specially on BNF.🧐
NiftyIT, NiftyFMCG along with Midcap and Smallcap register their new highs👍
Watchout for NiftyPharma its preparing for a breakout🤞