Technical: Nifty made a bearish candle while Banknifty continued making higher high & higher low.
Global sentiment: Weak
Dollar Index strong at 103.26
Crude: $75.50
Fund Flow: Cash sale by FII continues to drop to 1,749 yesterday which is grossly purchased by DII. FII continue to hold Short Index positions which can later result in short-covering.
Industries: Finance, IT, PSE, Pharma & chemical
Watchout: Nifty may continue to face resistance to face resistance in 25200-25250 range before a further rally. Consolidation is expected to continue with immediate support at 25000-24900 range..
Nifty 50 resistance 25168, 25287
Nifty 50 support 24982, 24888
Nifty Bank resistance 52062, 52206
Nifty Bank support 51719, 51571
Strategy: Add to the portfolio on Lows.