The bounce which was expected in the weekend posts by Shai and Girish played out and we had a move to friday highs again today.
The Vol profile chart shows a higher percentage of buyers than sellers and some initiative activity at key levels.
5804 and 5830 are important ref levels to the downside with the turn level of 5868 standing in between what could be a move to 5930 and 5975.
The Bank Nifty consolidated today below the highs of friday, but was not able to take out the early morning highs later in the day.
Support for the Bank nifty still lies at 11680 which in our book is as big as the 12460 levels of November future whose breakdown resulted in a 1000 point drop.
Like 5868 in the Nifty 11824 holds the key for further moves.
