NIFTY TREND

The day opened with a gap up, but  immediately the  index went in to correction mode.But by the end of  the day  it retained all  the gains and  closed near the opening price. The momentum  is  slow but bulls  are likely to see nifty  above 11810 in this  expiry.

If you see nifty above 11777 and stays above for an hour, you can take 11800 CE which will  give multiple returns. 

Bank Nifty must stay above 28322 or an hour or on a daily close basis, to clinch new high.  Target for BN spot is 28550/725/903, of  which 28725 sounds reasonable  and  logical.  Bank Nifty uptrend is likely as the key player HDFC Bank is all set  to touch 2150.  If HDFC Bank contributes  400 points  and other banks  put together give 100-150 points,  BN  should easily surpass 28769 from yesterday close. Hence 28725 sounds logical to  me.

Best  of  Luck!!