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NIFTY / SENSEX

Nifty, after opening on the lower side near 24220 zone recovered significantly and with high volatility witnessed during the intraday session ended marginally on the positive side, amid the border tensions looming around. The index is precariously placed maintaining the support near 24300 zone and sentiment turning into a very cautious approach, the index would have the crucial and important support zone near the 200 period MA at 24050 levels which needs to be sustained. Sensex after opening on a weak note recovered significantly with participation from the broader markets as well to end near the 80700 zone with sentiment slightly easing out and can anticipate for further rise till 81500 levels in the coming sessions. The index would have the crucial and important support zone of 79500 level as of now which needs to be sustained and on the upside. The support for the day is seen at 24200 levels while the resistance is seen at 24600 levels.

BANKNIFTY / BANKEX

BankNifty, with high fluctuations witnessed, recovered during the last hours of the trading session to close near the 54600 zone awaiting the FED outcome, once again maintaining above the important support zone of 54500 level. On the upside, as mentioned earlier, the index would need a decisive breach above 56000 zone to confirm a breakout and thereafter, expect for fresh round of momentum in the coming days. Bankex taking support near the 61000 zone has recovered to close near the 61800 zone during the intraday session and can expect for further rise with initial target of 62000 level expected in the coming sessions. With the bias maintained intact till now, the crucial zone of 60500 level needs to be sustained to anticipate for further recovery on the index. BankNifty would have the daily range of 54000-55200 levels.

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