Nifty did manage to climb above 11000 mark, but unable to sustain the high due to lack of support which was visible in CNX 500 index.
At the end of the day, it closed at 11069, a doji close. This indicates no steam left on the last day of the week to continue the rally.
Bank Nifty futures has crossed 27480, but in the end it was again a close near previous day, signalling exhaustion.
Watch out for 10983.50 ( budget day high) and 10934 ( 5/2/19 close price) up to which nifty likely to visit to complete the consolidation.
Bank Nifty is still lagging behind and yet to participate in the rally. Till then crossing 10200 is a long way away.
Good Luck!
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