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Nifty barely managed to hold above 12000 on Thursday, as concerns over the growth and RBI status quo on policy rates hurt investor sentiment. the index formed a small bearish candle, support at 11950- 11900. The index closed 12020, which is very strong support with nifty being in this range, market sentiment can be expected to be positive for the day. The market stayed flat in expectation of rate cut during the initial trading hours.
Banknifty dropped to 31712 despite making an engulfing bull on the previous, All major banks dropped while ICICI bank stayed its ground throughout, Bearish day candle formed in bank nifty, 32500 highest number of call seller with the highest number of put writers at 31500.
