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The market consolidates with positive bias following volatile trading sessions where banking stocks outperformed despite hawkish commentary by Jerome Powell yesterday.
Technically Nifty manages to come back and close above its 100-DMA however 17355 is an important resistance; above this, we can expect a short covering move towards an important hurdle of 17600. On the downside, 17100-17000 is acting as an immediate demand zone; any decisive move below this may lead to any further weakness.  
Banknifty respecting its 200-DMA and showing signs of some strength however 36900-37100 will act as a strong resistance zone; above this, we can expect a short-covering rally. On the downside, 200-DMA of 35700 is immediate support while 35250-35000 is the next critical support zone.

 The market may remain volatile amid new flows regarding omnicrant variant and various restrictions. The market will also focus on the behavior of FIIs ahead of year-end

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