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Technical Outlook:

Nifty (Spot):

Nifty is again gaining momentum after a consolidation where 15400 is an immediate hurdle; above this, we are likely to see a further rally towards 15500/15600 levels. On the downside, the 15250-15200 zone has become an immediate and strong support area while 15000- 14950 will be the support area. Traders are advised to respect the screen where stock and sectorspecific outperformance will be continued.

Banknifty (Spot):

Banknifty is outperforming after breaking out the 36500 resistance mark where 38000 is the next important resistance; any decisive move above this can lead to a further rally. On the downside, 36500 will act as immediate and strong support now while 35500 will be the next support.

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