Index levels for 18 Dec

Nifty Spot closed at 12165

Resistance at 12233 / 12250

Support at 12120 / 12100

BankNifty Spot closed at 32140 (NR7 Yesterday)

Resistance at 32333 / 32411

Support at 32050 / 31900

View: - Nifty is strong as compared to BankNifty, but how long has that stayed in past. From last 3 days Nifty IT is helping Nifty to move up while BankNifty has taken a pause. Expecting BankNifty to outperform going forward. BankNifty was in NR7 yesterday, if High of yesterday is broken on upside, it is a buy with day low as stoploss. This is the view i am going with today. I will update the view if there is a change in view.