Nifty pares early morning losses after a weak opening on the back of negative global cues. the global equity markets were largely down which affected the sentiment in early hours of trade. A mild consolidation followed by buying in late hours does point to overall strength on any dips.
A dip was seen to 10800 while a rebound from that level further pointed that writers are aggressive at 10800 – 10700 while on upside long build up in seen at 11000 – 10900 strikes. hence lower levels should be picked for buying and getting in the momentum for a possible upside to 11050. Only resistance we observe is placed at 10950 which needs to be taken out aggressively.