The charts seems to show that there is substantial support for the Nifty at 6000 levels and the bears will not find it easy to push the Index back.The Index needs to stay between 6090 and 6110.The crucial level for a recovery.
Where as the bank nifty is still very weak andit needs to clear the immediate supply zone between 10275 – 10330 and then 10430 – 10491. For it to be really on the path of any sustainable recovery, it would have to stay above 10560 – 10625 range. Else, any rally from the current level would just be a pullback corrective. On the downside, however, any fall below the crucial support range between 9935 and 9890 would be very damaging; that zone being quite a strong support zone, it would not be easily taken out.
Where as the bank nifty is still very weak andit needs to clear the immediate supply zone between 10275 – 10330 and then 10430 – 10491. For it to be really on the path of any sustainable recovery, it would have to stay above 10560 – 10625 range. Else, any rally from the current level would just be a pullback corrective. On the downside, however, any fall below the crucial support range between 9935 and 9890 would be very damaging; that zone being quite a strong support zone, it would not be easily taken out.