Mkt to open gap down.
And Nifty failed to cross 18114. It is in no way a reversal but just a pause. But it is important for the overall health of the markets. This is called consolidation and I hope it continues for few more days. After a strong rally, people who bought lower are booking profits and purple who missed last month will slowly enter now.
Nifty. Nifty should support 17700 today. Below it is a drop of 150 points. Resistance is placed at 17880 to 17900 for the day.
BankNifty. Support is placed at 41000 and resistance at 41800.
Derivative. Data points are weak especially in stock futures as lot of shorts were built in yesterday.
Cautious day. Do not buy.