Buy Or Sell | Bank Nifty may continue to underperform

Nifty has support at 11500-11550. Until and unless 11500 is not breached, we remain positive on the market with 11,800 as the immediate target followed by 12,000. Multiple resistances are in place between 11900-12000 levels as huge amount of Call writing is seen. Bank Nifty may show more underperformance as the sector has seen good amount of profit booking. Larger support for Bank Nifty at 29200. FMCG looks attractive, says Vikas Jain, Sr. Research Analyst, Reliance Securities.