"It was a choppy day as most stocks moved without any cause and drifted sideways. Nifty after initial hiccups managed to stay stable to end 44 points higher at 11713. Once again, a spinning top candle was formed which identifies with loss of momentum particularly after a significant rally. For past three days, Nifty has shown some lackluster movement and forming Doji candles reflecting consolidation. In the absence of major selling pressure, it is drifting sideways and looks like it would continue to do so. Ahead of the RBI policy, Nifty may break into new highs above 11760 and move towards 11800 range, On the lower side, 11630 is immediate support. Below that 11570 is next support." - Mr Abhinav Gupta, President, Capital Markets, Share India Securities Ltd.
NIFTY - 11713
Sup 11670-11630 Res 11760-11810
BANKNIFTY - 30354
Sup 30250-30100 Res 30550-30650