Nifty will take resistance at 10630. 600 Points rally to hold. Intermediate term is still bearish.
Nifty index opened positive and managed to hold above 10,480. From last 12 consecutive sessions, higher highs formation is made, which indicated that the bulls are holding the momentum.
As long as the index holds above 10,480 , it can extend its gains towards 10,580 then 10,630 while supports are seen at 10,480 then 10,440.
Bank Nifty opened flat & took support at its previous hurdle at 25,250.
As long as it holds & sustain above 25,250 , it can start the next leg of up move towards 25,750 while major supports are seen at 25,000.