Nifty finally breakouts the psychological mark of 16000 decisively supported by FIIs'buying which may lead to the further upside towards 16500 level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty finally breakouts the psychological mark of 16000 decisively supported by FIIs'buying which may lead to the further upside towards 16500 level while on the downside, 16000 willact as a strong base for time being, therefore, traders are advised to play this bullish momentum with trailing stop loss approach.
Banknifty (Spot):
Banknifty manages to close above its 50 and 20-DMA which may lead to further bullish momentum where 35750-36000 is an immediate resistance zone; above this, 36500 will be the next hurdle. On the downside, 35000 will act as a strong support level.
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