Buy or Sell | Support for Nifty at 11,140-11,180; Buy Pidilite, Power Grid

Every pullback move has been sold into. The correction has been in the outperforming largecap stocks as well. Key resistance for Nifty is 11400 and until this level is crossed, one should not expect any significant pullback or upmove in the near term.

Support for Nifty is placed around 11140-11180 zone. As of now there is no sign of reversal and traders should watch out as to how the index behaves.

Support for Bank Nifty is in the 28550-28850 range. Public sector banks have seen a very sharp correction. As of now, there are no signs of reversal. Traders should keep an eye out for stocks which have been outperforming in the recent move.

Havells India and HPCL are the two stocks where one can expect a 3 percent to 5 percent cut from the current level, says Ruchit Jain, Technical Analyst at Angel Broking.