Morning Market View:

Nifty has been in the strong momentum from past few sessions and is looking strong on the charts with strong support placed around 24000 on the lower side. The immediate resistance for the index is around 24400-24500 on the upper side. The overall trend of the index is Buy on dips for the near term till the index is holding above 23900 on closing basis. Bank Nifty have given good bounce in the recent past above 55500 on the daily charts. The overall trend of the index is good with some volatility expected today after the recent brutal strong up move on the daily charts. The sentiment on the street will remain bullish with support for the index placed around 55200 while 56500 remains resistance for the day.