Banknifty is showing decent strength after many days of underperformance - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is continuing its bullish move after bouncing back from 100-DMA but 14650- 14700 is an immediate supply zone; above this, we can expect further strength towards the next important resistance area of 14850-14900 while if Nifty faces difficulty to cross 14650-14700 resistance zone then we can expect some selling pressure. On the downside, 14475-14450 is an immediate support zone while 14300-14250 is a critical support zone.
Banknifty (Spot):
Banknifty is showing decent strength after many days of underperformance where 32300-32500 is an immediate resistance zone while 32725-33000 is a critical resistance zone. On the downside, 31700 will be immediate support whereas 31300-31000 is the next support area.
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