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Key Highlights:

BEARS hold strong grip over the market, however the NIFTY closes just above the 200 Day SMA (16798)….

NIFTY SPOT: 16842.80 (-3.06%)

TRADING ZONE:

Resistance: 17100 (Day High) / 17303 (Gap Resistance)

Support: 16798 (200 Day SMA) / 16614 (Key Support)

BROADER MARKET: UNDERPERFORMED

MIDCAP 28558 (-3.94%), SMALLCAP 10218 (-4.44%)

Advance-Decline: 245 / 1858

VIEW: Bearish till below 17303 (Gap Resistance). 

BANKNIFTY SPOT: 36908.55 (-4.18%)

TRADING ZONE:

Resistance: 37160 (50 Day SMA)/ 37796 (Day High)

Support: 36454 (200 Day SMA) / 36000 (Key Support)

VIEW: Bearish till below 38145 (20 Day SMA)

Technical Snapshot

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