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Technical Outlook:

Nifty (Spot):

Nifty is consolidating with positive bias where it may try to move towards a resistance area of 15250-15300. On the downside, 15140 will be immediate and intraday support level while 15000-14950 is a critical demand zone. Traders are advised to respect the screen where stock and specific outperformance will be continued.

Banknifty (Spot):

Banknifty is underperforming for the last few days but 35500-35300 is a strong demand zone where we can see a bounce back one again. On the upside, 36000 is an immediate hurdle while 36500 is a critical hurdle because above 36500, we can expect a short-covering rally.

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