Banknifty also witnessed strong pullback from the 33300 level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
The market is trading volatile where Nifty has witnessed a smart recovery for 14350 level after a meaningful correction but SO-DMA of 14750 is an immediate hurdle while 20-DMA of 14900 will be a crucial hurdle and if Nifty manages to trade above 14900 level! then we can expect a strong rally towards 15250 level. If Nifty faces resistance at the 14750 level then 14630 will be an immediate and strong support level while 14500-14450 will be the next support zone.
Banknifty (Spot):
Banknifty also witnessed strong pullback from the 33300 level but 50-DMA of 34320 is an immediate hurdle; above this, 35000-35200 will be the next supply zone. If Banknifty faces resistance around 34320 level then 33750 will be the immediate support level while 33250- 32750 will be the key support area.
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