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Technical Outlook:

Nifty (Spot):

The market is once again correcting on the back of weak global cues where 14935- 14900 will be the first demand zone for the Nifty while 14750/14635 will be the next critical support levels. On the upside, 15100 will act as an immediate hurdle while 15250-15275 will be the next critical resistance zone. It would be the test of the strength of the Indian market today amid cocktail of bad news where Traders are advised to wait for the first 45 minutes to understand the trend and trade accordingly.

Banknifty (Spot):

Banknifty may underperform in the morning where 35350-35000 will be a strong demand zone; below this, 34500 will be the next critical support. On the upside, 35800-36000 will be the immediate resistance area; above this, 36500-36600 will be the critical resistance area.

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