Morning Market Views:
Nifty have again witnessed selling pressure at higher zones but have made higher high and higher lows around the lower support zones of 25400-25500. On the flip side, 25800-25850 remains strong supply zones for the intraday perspective. The overall sentiment on the street is cautious and short covering will only be witnessed above 25850 levels.
Bank Nifty still is consolidating in the broad range with price having support around the lower levels all thanks to some strength witnessed in the ICICIBANK. The trend of the index is neutral till it is holding 59000 levels on the lower side while above 59800 only the view will be more positive for the near term.
On the geopolitical front, the ongoing US-IRAN issue is the major culprit behind the current sell off and may exaggerate further in the near term.
Results for the day: