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GOOD MORNING ALL

Yesterday, the Nifty opened the day with a positive bias and extended the gains all day long to close the day at around the days high.

For today, the Nifty is expected to open with a negative bias due to global cues. Strong support is at 11350. If this level is held the Bulls will be in safe hands. Now the next resistance is at 11450. Its only above this that the Bulls will be in command and thrive.

Keep a close watch on the volatility Index as well.

The Supreme court has asked for two weeks of time to give the verdict. For the Bank Nifty, strong resistance is now at 22700. Its only above this that the Bulls will feel safe. Immediate support band is at 22250 – 22100. If this support band is taken out we will witness panic in this sector and can test 21900 – 21500 levels as well in the days to come.