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Good morning

Last Friday, the Nifty opened the day flat with a huge negative gap, extended the correction in the first two hours of trade. The next few hours saw some demand as the Nifty recovered the losses only to slip down again in the last hour of trade to close the day at around the day’s low.

For today, the Nifty is expected to open with a negative bias on global cues. Strong and immediate resistance is now at 17450. The next support is at 17200 – 17150

Further updates during live market hours on our Telegram channel.

For the Bank Nifty, immediate and crucial support is now at 38375. We would like to take fresh short position below this level with a strict stoploss above 38600 on hourly closing basis.

Wishing you a profitable day ahead!!!