Banknifty is underperforming where 30500-30000 is an immediate support - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is sitting at important support of 14250 after a sharp cut in yesterday's trading session where 14450-14500 will act as an immediate resistance area and if Nifty manages to sustain above this then we can expect further strength towards 14700 level while if Nifty slips below 14250 level then we can expect further selling pressure towards 13950-13800 zone. Aggressive traders can try for long positions with a stop loss of 14200.
Banknifty (Spot):
Banknifty is underperforming where 30500-30000 is an immediate support area where it may try to bounce back where 32000-32500 will be supply area at any bounce back while if it slips below 30000 mark then 29650-29000 will be the next support area.
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