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Nifty sheds its gains as Banks continue to drag it lower, largely lead by the PSU banks
We expect index will oscillate within the broader range of 10300-10700 range.
In last 30 minutes index corrected around 90 points.
Upper side short term resistance is 10600 and lower side support is 10350.
Bank Nifty seems weaker of the lot and is displaying sustained selling pressure at every rise.
The immediate supports around 25300 if given away could lead to some serious decline in the coming days.
The charts does indicate that there has been sufficient short build-up that could now produce some fresh declines.
Consolidation range seems to between 25200 to 26200.
* This material is for information purposes only and should not be constructed as an offer or solicitation of an offer to buy or sell any securities.