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Published on 29/05/2020 2:45:16 PM | Source: Swastika Investmart Ltd

Banknifty has an immediate hurdle at 50-DMA which is placed at the 19500 level - Swastika Investmart

Posted in Market Outlook| #Market Outlook #Swastika Investmart Ltd

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Technical Outlook:

Nifty (Spot):

Nifty is in bullish momentum where 9500-9600 is an immediate and strong resistance zone, above this, 9860-9890 will be the next resistance area. In the downside 9430 is immediate support; below this, we can expect some more weakness towards 20-DMA of 9225 while 9175-9050 will be a major support zone in the downside.

Banknifty (Spot):

Banknifty has an immediate hurdle at 50-DMA which is placed at the 19500 level; above this, we can expect further upside towards 20000 level. In the downside, 18900 is the immediate support, below this, it may slip towards 18400-18200 levels.

 

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