Nifty has strong bullish momentum however it is trading near a downsloping trendline resistance placed around the 17125 level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty has strong bullish momentum however it is trading near a downsloping trendline resistance placed around the 17125 level; above this, there is a high probability of new highs in the market this month itself. On the downside, 17800 will act as immediate support while 17500-17400 has become a strong base.
Bank nifty (Spot):
Banknifty is outperforming and it has a strong structure where 39200-39500 will be the next resistance area. On the downside, 38000 is an immediate support level while 37200- 36800 has become a strong demand zone.
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