Banknifty has slipped below its important support level of 37000 however - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty view is bullish but little cautious amid global volatility. 16800-16600 strong demand zone so positional traders can take risk with SL of 16600 for the target of 17500/17800.
Banknifty (Spot):
Banknifty has slipped below its important support level of 37000 however 200- DMA of 36000 will act as strong support level where we can expect a reversal. On the upside, 37500 will be act as an immediate and strong resistance area while 38500-39000 will be the next important resistance area.
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