With the mildly positive global cues ideally market should open positive. But we are expecting some consolidation in first half of the day in the trading range of 4800-4870.During the second half we expect an up move above 4870 to face the resistance at 4970-4980 as the high probability scenario.As a low probability scenario it may breach 4800 & may retest 4720-4730.

  Bank nifty has been mercurial compared to nifty as usual. Yesterday’s pattern is more bullish than nifty. For the day we see 8625-8850 as trading range with 9125-9175 as resistance(high probability) & 8450-8500 as support(low probability) .

 We recommend buying ACC around 1110 with the stop of 1090 for the target 1185 & 1225 in next 15 working days.