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GOOD MORNING ALL

Yesterday, the Nifty opened with a gap down and traded in a tight range all day long with a negative bias. But the last hour of trade erased all the losses to close the day at around the days high.

For today, the Nifty is expected to open flat. Strong support zone is at 11300 – 11260. If this support zone is protected, we could test the resistance at 11450 above which the Bulls will feel safe.

Keep a close watch on the volatility Index as well.

For the Bank Nifty, strong support is at 22800. If this level is taken out and sustained then the Bears will command the day as the next support is deep down around 22500 level. The Bulls will feel safe and rule the day only if 23400 – 23450 resistance zone is taken out.