This is how you do it for the Index also.
Nifty. Support is placed at 16860 and resistance is placed at 17170. Won't be surprised if we cross the 1st level of resistance.
BankNifty Tip Should be the leader today. Lot of people were holding longs and I told them to hold. Today's is the day to reap the benefits of patience.
Derivative. Data formation is weak. Hence we keep on booking longs as and when we get the price. Lots of Index shorts and put longs were added which are a concern. As per my derivative update, if Nifty starts trading above 17235, then I expect huge short covering which can take the Index higher towards 17425.