Market is trading quite close to its crucial support of 11,550. If Nifty breaks 11,550, then the higher top higher bottom formation will be negated and then we may slip into a consolidation or corrective phase. Traders should keenly watch how the market behave. Bank Nifty has confirmed breakdown of double top formation which is not a positive sign for the short term. Any minor move in Nifty and Bank Nifty can face resistance. Resistance for Nifty at 11,700. Very strong resistance for Bank Nifty at 30,100-30,200 range. Traders can take stock specific approach in short term, says Ruchit Jain, Technical Analyst at Angel Broking.