Nifty Daily View Since the last five days, the market is moving upward. On Tuesday, Nifty closed at 10480, which is 100 points away from the major hurdle of 10590. During the year 2019 whenever, the market has fallen it got arrested between the levels of 10600 and 10500. As per the theory of Fibonacci retracements, the ratio of 61.80 acts major support or resistance for stocks or indices. At 10550, Nifty will approach to 61.80 levels (as per Fibonacci retracements) and to the earlier major support that would act as major barrier. Between these levels, the Nifty may pause. May consolidate. Traders should be cautious between the levels of 10500 and 10600. We should not be in a hurry to re-enter into the market if it corrects from higher levels. Buying is advisable only on deep declines.For Nifty support exists at 10400 and at 10330. Bank Nifty is also approaching to the major resistance level of 22500/22600. In the short term, we should be careful while adding long positions. For Bank Nifty support exists at 22000 and 21800.