Bulls may hope that 200-300 points rally from here in the near term subject to sustain above the Gap 17150-17100 & better to stay above 17200.

By a Staff Reporter:  Technically, though Nifty has been trading in falling channel formation but crossing above the upper band of formation can show an upside rally in the counter.Bulls may hope that 200-300 points rally from here in the near term subject to sustain above the Gap 17150-17100 & better to stay above 17200.

RANGE Current 17100—17300 (rounded)

Upside :- Break out hurdles 17376/400 & then major 17500 & even upto 17600.

Down side :- Break down Supports 17025 & then major 16880 & even upto 16800.

So widely speaking main range 16800-17600.

Intraday basis above 17231 Resistances are :- 17274—17299—17351—17376 with Support 17150

The Option Table data indicates decent support at 17000 and immediate resistance at 17300.

Bank Nifty has support at 34500 level while resistance at 35500 level.

Source : Eureka

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