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GOOD MORNING ALL

Yesterday, the Nifty opened the day with a positive bias and traded in a tight range with a positive bias to close the day at around the days high.

For today, the Nifty is expected to open flat. Now the support stands at 11450. Till the time this support is held the Bulls will be in safe hands. However, the bulls will take control for a gig rally only when 11570 – 11600 resistance zone is surpassed.

Keep a close watch on the volatility Index as well.

For the Bank Nifty, immediate support is at 22300. The next important resistance is at 22700, which if taken out will take the Index to 23000 at least.