NIFTYBANK - Receeding bank

Nifty moves perfectly catch the range expected. Slow and steady erosion in the support is what is seen. Bull need close above 37800 and bears need close below 36800 for further erosion. Continue to watch this range for further clues though optically bears hold the edge. Watch the 200 DMA action in Nifty. Any break it would be driven by other Indexes as well. For the day this range continues bias remains sell on rally stops 37850. While longs the stop is 36770.