Technical: It was 3rd volatile session where Nifty made a large red candle with ~300 points of intraday movement. However, Banknifty showed strength with a bullish engulfing large green candle.
Global sentiment: Neutral
Dollar Index getting stronger to 103.96
Crude: $74.08
Fund Flow: DIIs bought in Cash more than falling cash sale by FIIs. FIIs has increased their Short Index positions which can later result in short-covering.
Industries: Finance, PSE, Pharma & chemical
Watchout: Closing above 25000 will continue to be important to watch out. Any closing below 24560 will make the market very weak..
| Nifty | Banknifty | |
| Resistance 2 | 25110 | 52850 |
| Resistance 1 | 24950 | 52410 |
| Yesterday Close | 24781 | 51962 |
| Support 1 | 24650 | 51690 |
| Support 2 | 24510 | 51410 |
Strategy: Market is likely to be volatile on both sides. It will be wise to go with the flow.