Indian Markets have respected the initial support zones of 23300 while still 23100 remains strong support for Nifty in the near term. On the flip side, 23500-23700 remains immediate resistance for the index. The overall trend and the sentiment on the street seem to neutral to cautious till the index is crossing 23800 on the daily charts. Bank Nifty have been under selling mode again as broad-based weakness seen in the private sector banking stocks followed by select PSU banking stocks. The overall trend of the index is bearish with heavy swings expected today after the recent brutal sell off. The sentiment on the street will remain weak with support for the index placed around 52800 while 54000 remains resistance for the day. Stock in Focus -

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