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GOOD MORNING ALL

Yesterday, as predicted the Nifty opened the day flat and tested the crucial resistance levels to close the day at around the days high.

For today, the Nifty is expected to open flat. Now the support stands at 11550. Till the time this support is held the Bulls will be in control. All long positions should have a stoploss below this support. On the higher side, the 11700 – 11800 should be tested in the days to come.

Keep a close watch on the volatility Index as well.

For the Bank Nifty, immediate support is at 22450. The next important resistance to be watched out is at 22700, which if taken out will take the Index to 23000 at least.