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Key Highlights:

NIFTY maintains Lower Top Lower Bottom formation on the weekly charts….

NIFTY SPOT: 16411.25 (-1.63%)

TRADING ZONE:

Resistance:16651 (Gap Resistance) / 16824 (Key Resistance)

Support: 16335 (Key Support) / 16100 (Key Support)

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 10731.3 (-1.72%), SMALLCAP 250: 8919.45 (-2.27%)

Advance-Decline: 441/ 1648

VIEW: Bearish till below 17000 (Multiple Touch Points Level)

BANKNIFTY SPOT: 34591.2 (-1.82%)

TRADING ZONE:

Resistance: 35133 (Gap Resistance)/ 36085 (50 Day SMA)

Support: 34353 (Day Low) / 34000 (Key Support)

VIEW: Bearish till below 36915 (200 Day SMA)

Technical Snapshot

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