Nifty closes higher above 10600; trading at resistance zones near 10620; narrow trading suggests big move is ahead.
Nifty index managed to hold above 10565 and headed towards 10636. It witnesses buying interest on declines as supports are gradually shifting higher.
As long as it holds above the 10550-10565 it has potential to move back towards 10630 then max to 10700 while on decline below 10550, it will have major support at 10500-10480 zones.
India VIX fell by 9.47% to 11.89. VIX is at its lowest daily close in last four months since December 22, 2017.
Bank Nifty opened flat, but managed to hold above 25000. It has negated the formation of lower highs and lower lows of last 4 sessions.
The index is consolidating inside a range from last 12 trading days. Boundaries are now clearly visible with a support near 24850 and a resistance near 25450. A close beyond this range may decide the next course of action in Bank Index.