Banknifty is underperforming where 100-DMA of 33200 is an immediate hurdle - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is respecting 100-DMA and it is likely to open above 50-DMA of 14733 which may lead to further strength towards 14880/15000 levels. 14700 will act as an immediate support level while 14600/14500 will be the next support levels.
Banknifty (Spot):
Banknifty is underperforming where 100-DMA of 33200 is an immediate hurdle; above this, we can expect short covering rally towards 50-DMA of 33750. On the downside 32800 is an immediate support level while 32400/32000 will be the next support levels.
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