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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum after a small pullback where 15675 is an immediate hurdle; above this, Nifty is likely to head towards the 15880 level. 15600-15570 area will act as a strong support zone for the intraday after a gap-up opening while 15500-15450 is a key demand zone at any correction. Traders are advised to remain with momentum and use a buy-on dip or consolidation approach until the market witness any sign of reversal.

Banknifty (Spot):

Banknifty may also catch momentum after some consolidation where it is likely to head towards 36500 level while 35700-36000 zone may act as a resistance zone ahead of weekly expiry. 35500-35300 will act as a strong support zone after a gap up opening while 34900 is the next important support in the downside.

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