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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum but facing some resistance at the 16700 mark where we could see a sideways movement today ahead of expiry. 16580-16660 could be a welldefined trading range for today's trading session. If Nifty starts to trade below 16580 level then we can expect any intraday weakness while if Nifty manages to trade above 16650 level then we can see a move towards 16700 level.

Banknifty (Spot):

Banknifty is facing resistance in the 35900-36000 zone after a decent pullback while 35500-35400 is an immediate support area. If it slips below the 35400 level then we can expect any intraday weakness towards the 35200-35000 zone while if it manages to trade above 35800 level then we can expect a move towards the 36000-36200 zone.

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