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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum after a strong breakout where 15675 is an immediate resistance then 15880 will be the next target level. On the downside, 15430-15330 will act as an immediate demand zone while 15050-14975 is a critical support zone at any correction. Traders are advised to continue with the current momentum with a buy-on dip approach until the market witnesses significant signs of reversals.

Banknifty (Spot):

Banknifty is also continuing its bullish momentum and manages to close above 35500 level which may lead to a move towards 36500 level which is an important hurdle. On the downside 35430 will act as immediate support while 34500-34250 is major support at any correction.

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