Nifty Future
The Nifty ended for the second consecutive day in the positive territory above its 5900 mark at 5944.10. On the derivatives front we have seen that the Nifty Futures prices ended in the positive territory along with an overall addition of open interest but decline in the cost of carry, this is an indication of some shorts being built at higher levels. On the options front the Indian Volatility Index has decline by 4.92% suggesting some respite in the markets.
Bank Nifty
Bank nifty future is moving under consolidation phase form last few trading session and is managing 11700 resistance level. If it sustain above it we can see more up moves from here. One should go for long position above 11700 level in bank nifty. Resistance for bank nifty future is at 11700/11860 and support is at 11295/11045 levels.
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