Banknifty is respecting support of the 34000 level however structure is still weak - Swastika Investmart
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Technical Outlook:
Nifty (Spot):
Nifty is facing some resistance at 20-DMA after a decent pullback however 16900- 16800 is a strong demand zone; only below this zone, we can expect any kind of weakness. On the upside, 20-DMA of 17150 is an immediate resistance while 17250/17400 will be the next resistance levels. The overall view is slightly bullish till Nifty trades above 16800 however Nifty has multiple resistances that may cause volatility.
Banknifty (Spot):
Banknifty is respecting support of the 34000 level however structure is still weak. On the upside, 35300 is an immediate hurdle while 35700-36000 is a critical resistance zone. On the downside, 34500 is immediate support; below this, it may head towards the 34000 level.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.swastika.co.in/disclaimer
SEBI Reg. No. : NSE/BSE/MSEI: INZ000192732
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
