Bank Nifty ends on positive note gaining 1.77% - Karvy

The Bank Nifty ended on a positive note, gaining 1.77% in yesterday's trade. On the F&O front, the Index added 0.30% in open interest on the back of rise in cost-of-carry from 3.30% to 4.00%.

The index staged a smart recovery from sub-11000 levels. Going forward, the index is likely to see stiff resistance around the 11350-11400 zone. For the day, trade long on the Index if it breaks past 11200 for targets of 11300 and 11400 levels.

Alternatively, trade short if it slips below 11000 targeting support levels.

Source : Equity Bulls

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