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Technical Outlook:

Nifty (Spot):

Nifty is consolidating in 15250-14950 band after a strong run where SGX Nifty is suggesting a gap up opening and if Nifty manages to trade above 15250 level then we can expect further strength towards 15400/15500 levels otherwise range-bound move will be continued. 15165 will be immediate intraday support after a gap up opening. Stock and sector-specific outperformance will be continued amid holiday in most of the global markets.

Banknifty (Spot):

Banknifty is also consolidating in the range of 35500-36500 where any decisive move from this band will dictate a further trend. If it manages to trade above 36500 level then 37000/37500 will be the next resistance levels. 36100-36000 will act as an immediate demand zone after a gap up opening.

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