Traders should maintain stop loss of 11810 in Bank Nifty - Angel Broking

On Friday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session to close near the initial opening level. As there is no major change in the chart structure we reiterate our view that creation of fresh short positions at current level is not advisable.

The momentum oscillators on the daily chart continue to be oversold territory and hence further consolidation or a relief rally in the index cannot be ruled out. For the day 11593 - 11810 levels are likely to act as resistance and 11392 - 11256 levels are likely to act as support.

Traders holding short position in the index should maintain a stop loss of 11810.

Source : Equity Bulls

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