Nifty has made a near-term bottom and is ready to move higher however 16200-16300 is an immediate supply zone - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty (Spot): Nifty has made a near-term bottom and is ready to move higher however 16200-16300 is an immediate supply zone where we can expect some pause while above 16300, we can expect a rally towards 16500/16800 levels. On the downside, 16000-15900 will act as an immediate demand zone whereas 15700 is a sacrosanct support level
Bank nifty :
critical hurdle; above this, we can expect a major short-covering rally towards the 36000-36300 zone. On the downside, 34500-34250 will be a strong demand zone at any correction.
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