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Technical Outlook:

Nifty (Spot):

Nifty is trading near the demand zone of 15700-15650 after a correction from the 15900 level where we can expect a bounce back from this demand zone while 15800-15830 will be the first supply area; above this, we can expect a move towards 15880-15900 zone. On the downside, if the Nifty slips below the 15650 level then we can expect selling pressure towards 15550/15450 levels.

Banknifty (Spot):

Banknifty is also sitting near the demand zone of 35000-34750 while 35250- 35350 will be the first supply area; above this, we can expect a move towards the 35700-35800 zone. On the downside, if it slips below the 34750 level then we can expect selling pressure towards the 34350-34000 zone.

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