Sideways Session or Reversal Signal? Nifty-Bank Nifty Send Conflicting Clues
Good morning, all! Yesterday, markets gave a mixed performance – with Nifty closing at 24666.90 (up 0.36%) and Bank Nifty at 54801.30 (down 0.25%) . NIFTY ANALYSIS Nifty formed a small bullish candle on the daily chart, suggesting short-term consolidation. Despite the slight upmove, overall bias remains cautiously positive. OI & PCR Insights: Image from Sensibull PCR: 0.68 around ATM, 0.70 overall → Neutral stance Open Interest: Down 5.42% in Nifty Futures → Short Covering seen Key Technical Levels: Support: 24500 Resistance: 24700 Open interest is currently balanced on both sides – so 24500 is expected to act as a support. View: Neutral to slightly bullish BANK NIFTY ANALYSIS Bank Nifty continues to show weakness and confirmed the Bearish Harami pattern from earlier. Price action remained negative and trend looks pressured. OI Insight: Open Interest in Futures: Down 2.3% → Long Unwinding View: Neutral to slightly bearis...
