Nifty is consolidating around 17600 however SGX Nifty is suggesting a big gap down opening where 17550-17400 - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is consolidating around 17600 however SGX Nifty is suggesting a big gap down opening where 17550-17400 is a strong demand zone. On the upside, 17700 will act as an immediate hurdle after a gap down opening while 17800-17850 is the next resistance zone. Aggressive traders may try long positions near the 17550 level with a stop loss of 17400 for the target of 17800/18000 levels.
Bank nifty (Spot):
Banknifty is outperforming and consolidating near the 37500 level while 37150- 36700 is a critical demand zone at any weakness to take long positions. On the upside, 38000 is an immediate hurdle while 38500/39000 are the next resistance levels.
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