Nifty Trend- Last week the Nifty Index ended flat at 5452.10 gaining just 0.24%. On the derivatives front the Nifty Futures ended at a premium of 4.35 points. The Nifty futures prices have ended flat along with rise in the cost of carry and overall addition of open interest; this is an indication of some longs being built in it at lower levels. For the coming week Nifty would continue to face resistance at its 5510 mark and a decisive crossover above this mark will only provide strength to it and in that case the next may head towards its next resistance mark of 5550/5580 whereas on the downside strong support continues to exist in the zone of 5350-5280.
Bank Nifty Trend - Last week the Banking Index outperformed the broader market and gained 3.40% to end at 10737.35 Mark. The Index has touched an all time high of 10782.20 last week. On the derivatives front the Bank Nifty futures
prices have ended in the positive terrain along with an overall addition of open interest and rise in the cost of carry, this is an indication of longs being built at lower levels. For the coming week the Bank Nifty Index is likely to face resistance at its recent top of 10782, above this the next resistance is seen at 10857 levels whereas on the downside support for the index is seen at 10390/10255 mark.
