Morning Market Views:

Nifty is now trading near the upper band of the Bollinger on the daily charts with support placed around 24200 and 24120 on the lower side while 24500 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 56200 and 56000 on the lower side. The overall trend of the index is good with some volatility expected today after the recent bullish move on the daily charts. The sentiment on the street will remain bullish with support for the index placed around 56000 while 56900 remains resistance for the day.