The Bank Nifty has broken its immediate support area of 43,000, and may see further selling pressure in the coming trading session. The Nifty remains in a range of 17,900 to 18,200, with 18,000 being the put-writer’s major support area and 18,200 resistance. Among the automobile sector, two-wheelers and tyre space appear to be outperforming, with TVS Motor and Hero MotoCorp being recommended buys from the space. While gold is looking very bullish, crude is currently facing bearish pressure and may continue to fall. The FMCG sector and capital goods space should continue to run up in the near term.
