IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is in a sideways trend where it witnessed correction from 14950-15050 supply zone but 14620-14565 is strong demand zone and we can expect bounceback from here while if Nifty trades below this zone then Nifty may try to revisit towards support zone of 14400-14200. On the upside, 14730 is an immediate hurdle; above this, 14825-14850 will be the next resistance area.

Banknifty (Spot):

Banknifty is also consolidating where it manages to close above its 20-DMA of 32430 and if it manages to hold this zone then we can expect a pullback where 33200-33600 is a critical supply zone; above this, we can expect a short-covering rally while if it slips below 32200 level then we can see selling pressure towards 31500-31000 zone.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer