Index level for 8 May

Nifty Future closed at 11541

Resistance at 11590 / 11620

Support at 11470 / 11430

View: - Yesterday was a down day for Nifty in second half. Today as per SGX Nifty we are likely to open gap down by nearly 60-70 point. Nifty Support is around 11470, we should be looking to take long around those levels in band 11470 - 11430 based on reversal candlesticks if seen with defined risk. First level on upside is gap fill at 11541 and if moves further up we can move to 11590 and 11620 on upside.

BankNifty Future closed at 29418

Resistance at 29580 / 29715

Support at 29160 / 29030

View:- Follow same as Nifty View