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Technical Outlook:

Nifty (Spot):

Nifty is consolidating in a well-defined trading band of 17250-17450 and any decisive move from this zone will dictate further direction. The Overall texture of the market is still buy on dip' where 17360-17330 is an immediate demand zone. On the upside, if it manages to cross the 17450 level then we can expect a move towards 17600/17700 levels.

Banknifty (Spot):

Banknifty is also consolidating but underperforming where 36500 is the immediate support level while 36200-36000 is a critical demand zone. On the upside, it has multiple resistances at 36800/37000/37200 level; above this, we can expect a rally towards the 37700-38000 zone.

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