Nifty Spot View
Nifty traded with bearish sentiments in last session due to profit booking at higher levels from traders. Next important support seen at 9050 level. Nifty likely to trade with sideways sentiments in today’s sessio on profit booking at higher levels from traders. Nifty likely to trade with sideways sentiments and 9100 at lower side will be the trend deciding level for intraday session. Higher side resistance seen at 9180 levels. However, some profit booking at higher levels may limit the upside in NIFTY. Applying momentum Indicator RSI for 14-day period trading at level of 72.78 indicates that it is trading near over bought zone and may face resistance at higher levels.
Bank Nifty Future View
Bank Nifty traded with bearish sentiments due to profit booking from traders. It likely to trade with sideways sentiments in Intraday session on profit booking at higher levels from traders. Bank Nifty has next resistance at 21470 levels while 21000 is the strong support for the same. If Bank Nifty trade firm then it may test next resistance of 21470 levels. Technically, Fall in volume and Rise in open interest with bearish price movement indicates sideways sentiments in intraday session.
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