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NIFTY faces strong resistance at 16700 mark since past couple of days

NIFTY SPOT: 16584.55 (-0.46%)

TRADING ZONE:

Resistance: 16695 (2 Day High) / 16850 (Key Resistance)

Support: 16506 (2 Day Low) / 16400 (Key support)

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 10616.3 (0.04%), SMALLCAP 250: 8673.1 (1.02%)

Advance-Decline: 1096 / 957

VIEW: Bullish above 16695 (Day High)

BANKNIFTY SPOT: 35487.4 (-0.95%)

TRADING ZONE:

Resistance: 35778 (50 Day SMA)/ 36083 (3 Day High)

Support: 35288 (Day Low) / 34800 (Breakout Level)

VIEW: Bullish till above 34800 (Breakout level)

Technical Snapshot

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