Nifty have drifted lower once again in the last trade and is now trading around the mid band of the Bollinger on the daily charts with support placed around 24000 and 24040 on the lower side while 24400 remains strong resistance zones. The overall trend of the index is Buy on dips for the near term till the index is holding above 24000 on closing basis. Bank Nifty is also in the consolidation mode with support for the index placed around 55500 and 55300 on the lower side. The overall trend of the index is good with some volatility expected today after the recent volatile moves on the daily charts. The sentiment on the street will remain neutral with support for the index placed around 55500 while 56500 remains resistance for the day.

RELIANCE

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