Yesterday, the Nifty opened the day with a positive bias but after testing the resistance the Nifty corrected to retest the important supports to close the day midway.
For today, the Nifty is expected to open the day flat on global cues. Strong support is at 17800. On the higher side 17950 - 18000 is the next resistance zone. We expect the Nifty to spend some time in this range as these levels will be the make-or-break levels for the days to come. Stock specific activity should be seen as the September series is scheduled to expire this week. Further updates during live market hours.
For the Bank Nifty, strong support for the day is now at 37950 above which this sector will display leadership. On the higher side 38350 – 38500 is the immediate resistance levels which should be tested.