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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum and there are no signs of weakness where 17520 is an immediate target level. On the downside, 17290 is an immediate and intraday support level while 17200-17140 is a strong demand zone at any profit booking. Traders are advised to remain with the trend where if Nifty consolidates then Midcap and Smallcap stocks tend to outperform.

Banknifty (Spot):

Banknifty is still underperforming and consolidating around the 37000 mark where 37200/37700 are immediate resistance levels. On the downside, 36500 is an immediate support level while 36000 will be the next support level. It may catch up momentum anytime till it trades above the 36000 mark.

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