Bulls are in charge at the beginning of the year as they managed to cross 36000 level very swiftly.
Long on Bank Nifty till it touches 37500 level.
SL is 35800 (Futures).
Nifty has taken support from the gap level in the first hour today.
With bank nifty facing resistance at 35200 (Gap Area) level and nifty taking support at 17150 (Gap Area) level, my view is neutral for time being until one of the gap area has been taken out completely.
Will keep you updated accordingly :)
According to Pitch Fork analysis, consolidation is clearly seen on the charts for today.
SGX trading 13 points below with a flat opening.
Support 1 - 24946
Support 2 - 24846
Resistance 1 - 25146
Resistance 2 - 25246
