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NIFTY closes below previous week low, however it sustains above the 20 Day SMA (16251)….

NIFTY SPOT: 16416.35 (-0.92%)

TRADING ZONE:

Resistance: 16487 (Day High) / 16660 (Key Resistance)

Support: 16347 (Day Low) / 16251 (20 Day SMA)

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 10455.35 (-0.69%), SMALLCAP 250: 8592.5 (-0.56%)

Advance-Decline: 807 / 1287

VIEW: Bullish above 16251 (20 Day SMA)

BANKNIFTY SPOT: 34996 (-0.89%)

TRADING ZONE:

Resistance: 35424 (2 Day High)/ 35705 (50 Day SMA)

Support: 34635 (20 Day SMA) / 34115 (Key Support)

VIEW: Bullish till above 34635 (20 Day SMA)

Technical Snapshot

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