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Technical Outlook:

Nifty (Spot):

Nifty is pausing in the 16200-16300 zone however the overall texture is still bullish where 16000-15900 is an immediate demand zone while 15770 is a sacrosanct support mark. On the upside, if it manages to take out the 16300 level then we can expect a rally towards 16500/16600 levels,

Bank nifty :

Banknifty is outperforming however 35500 is acting as a minor hurdle; above this, we can expect a rally towards the 36000-36500 zone. On the downside, 35000-34800 is an immediate demand zone while 34350 is a sacrosanct support level.

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