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Published on 8/04/2021 10:58:26 AM | Source: Swastika Investmart Ltd

Banknifty is taking some support at the 32500 level where 33200 - Swastika Investmart

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

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Technical Outlook:

Nifty (Spot): Nifty is showing some strength where 14880 is an immediate hurdle; above this, we
can expect a move towards the 15050 level but the near-term trend will remain choppy till Nifty
trades below 15200 level. On the downside, 14700 is immediate support while 14500-14450 will be
the major support zone. Today is expiry day where we can expect some positive momentum if Nifty
manages to trade above 14900 level while 14800 will act as a strong support level.

Banknifty (Spot): Banknifty is taking some support at the 32500 level where 33200 is an immediate
resistance; above this, we can expect some more strength towards the 33500-33600 zone whereas
34000 is a key hurdle in the upside. On the downside, 32900 is immediate support; below this, we
can expect pressure towards the 33500-33300 zone.

 

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