27 Dec, 2016 (9:05AM IST)
Indian markets will remain volatile and range bound till Nifty trades above major support of 7,900.
Yesterday, the index fell below this support but then bounced back and traded in a narrow range after that.
Bank Nifty has breached all its technical supports and will continue to decline, whether in small numbers or big, slowly or speedily, that only time will tell.
For intra day trading in Nifty, 7,924 will be its pivot and may act as the first resistance of the day. The day’s major resistance will come near 7,954.
If Nifty turn negative and falls below 7,900 then 7878 and 7,847- 7,801 will provide support on lower levels.
Watch these levels and trade carefully with the trend which is expected to remain volatile. Bank Nifty could dominate the trend.
Good luck, enjoy the session!