Yesterday, Nifty remained range bound between the levels of 5540 and 5580. Therefore, for today the level of 5565 is important. Trading above 5565 nifty will test the levels 5583/5615.
Nifty will find support at 5534 / 5522 / 5502.
A close above 5584 will be important to confirm bull run.
Bank Nifty Future (Refer Chart - Bank Nifty)
Bank Nifty has support at 11040 levels, although yesterday's low was 11035. If it holds above yesterday's low then we can expect a pull back in Bank Nifty. But if it breaks the level of 11035 then it will test the levels of 11005 / 10935.
Above 11110 Bank Nifty can move towards the possible high of 11150 / 11222 / 11266
Intra day calls
Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.www.goodreturns.in. You can contact him at firstname.lastname@example.org
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