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Key Highlights:

NIFTY forms Bull Sash candle pattern, however it sustains below 200 Day SMA (16903)

NIFTY SPOT: 16658.40 (+2.53%)

TRADING ZONE:

Resistance: 16748 (Day High) / 16903 (200 Day SMA)

Support: 16478 (Day Low) / 16203 (3 Day Low)

BROADER MARKET: OUTPERFORMED

MIDCAP 27953 (4.18%), SMALLCAP 9786 (+4.84%)

Advance-Decline: 1755 / 313

VIEW: Bearish till below 16903 (200 Day SMA).

BANKNIFTY SPOT: 36430.75 (+3.41%)

TRADING ZONE:

Resistance: 36652 (200 Day SMA)/ 37318 (Gap Resistance)

Support: 35768 (Day Low) / 35220 (Key Support)

VIEW: Bearish till below 38054 (Week High)

Technical Snapshot

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