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Technical Outlook:

Nifty (Spot):

Nifty is again witnessing correction from the 15000 level and SGX Nifty is suggesting a gap down opening where 14500-14450 will be the first strong demand zone to buy this dip while 14250-14150 will be the next critical demand zone. 14625 will be the first resistance after a gap down opening while 14750-14800 will be the next resistance zone.

Banknifty (Spot):

Banknifty is also witnessing correction from 50-DMA where 32300-31800 will be the first and strong demand zone while 31000-30500 will be the next support area. On the upside, 32800-33000 will be the first resistance area 33300-33500 will be the next resistance zone.

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