Yesterday Gap down opening near day’s low 35100 area was good opportunity level to buy. Then through out the session continuous basis up move maintaining 35475-35550 as support. This is the 3rd consecutive positive mode & 2nd strong bullish engulfing candle, closed above previous top 35550.
Bank Nifty settled at 35720, Day to Day basis up 362 points.
On the Up side :-
Above initially crosses cautious hurdles 35770 -35800, next resistances are 35922 & Major 36083. Break out hurdles are 36170—36323.
On the Down side :-
Below 35550 1st vital support 35475. These should hold to maintain the upward journey. Otherwise below that 35365-35270. Major 35110. Break down support 35000.
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