Nifty may find short term support around 10100; relief rally is possible but intermediate trend remains down.
Nifty index opened negative, but managed to hold 10050 levels, and witnessed a recovery of around 100 points from low points of the day.
However, it witnessed a tough fight between bulls and bear in the range of 10900 to 10150 in second part of the session and in last bulls hold the market,
Now, index has to cross and hold above 10141 to continue its up swing towards 10276 while supports are seen at 10050 then psychological 10000
Bank Nifty continued its weakness for a 4th session; however it took support around 23822, 23766, 23912, 24048 and 24082.
Now, it has to surpass immediate hurdle at 24350 to get some stability and a bounce towards 24500 then 24750 while support is seen at 24000.