Nifty has slipped below the psychological level of 17000 where 16900 is a critical support level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty has slipped below the psychological level of 17000 where 16900 is a critical support level. SGX Nifty is suggesting another gap down opening and if Nifty starts to trade below 16900 level then it is likely to head towards 16700-16400 support zone otherwise we can expect some pullback. On the upside, 17075-17100 will be the immediate resistance zone while 17250 will act as a critical hurdle.
Banknifty (Spot):
Banknifty has slipped its 200-DMA that may lead to further weakness where 35000-34800 is the next important support zone; below this, 34000 will be the next important support level. On the upside, 35900-36000 will be the first resistance area while 36500 will be the next critical hurdle.
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