---

GOOD MORNING ALL

Yesterday, the Nifty opened with a positive gap and all our targets were achieved. However, as the geopolitical news cropped in, the Nifty nosedived deep down to close the day at around the day’s low. Yesterday’s fall has engulfed the last 6 trading days which is not a good sign for the Bulls. Weather the fall was due to the Geopolitical situation or the new margin system is not important. Important point is that longs have been trapped and it will not be an easy task to surpass the resistance levels very fast. Kindly note that is stop losses have been triggered you need to respect the verdict. Stay on the side lines till we have better clarity.  

Keep a close watch on the volatility Index as well.

For today, the Nifty is expected to open with a positive bias. Strong resistance zone is at 11550 – 11600 below which the Bears will continue to rule the markets. On the lower side, if 11300 is taken out the next support is at 11200.

For the Bank Nifty, strong resistance is at 24200. On the lower side the next important support is at 23000.