GOOD MORNING ALL
Last Friday, the Nifty opened the day with a positive bias and traded the day in a tight range all day long to close the day flat.
For today, the Nifty is expected to open with a slight positive bias due to global cues. Strong support is at 11400. If this level is held the Bulls will be in safe hands. Now the next resistance is at 11500 – 11560 which are likely to be tested.
Keep a close watch on the volatility Index as well.
For the Bank Nifty, strong resistance is now at 22700. Its only above this that the Bulls will feel safe which can then see the Index test 23000 levels in the days to come. On the other hand, immediate support band is at 22250 – 22100. These are the make or break levels. 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