Banknifty is also showing decent strength where 100-DMA of 32900 is an immediate hurdle - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty manages to close above its 20-DMA which may lead to further strength where 14785-14835 will be the next important resistance area. On the downside, 14580-14550 is an immediate demand zone whereas 14400 will be the next important support level.
Banknifty (Spot):
Banknifty is also showing decent strength where 100-DMA of 32900 is an immediate hurdle; above this, we can expect further strength towards the 33300-33500 zone. On the downside, 32500 will act as an immediate support level while 32200 will be the next support level.
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