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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum followed by a consolidation near the important hurdle of 17500 and now it managed to close above the 17500 level which may lead to a move towards the 17700-17800 zone however 17700-17800 will be a critical resistance zone where we can expect a profit booking. On the downside, 17400 is an immediate support level then 17200- 17000 is a critical demand zone.

Bank nifty :

Banknifty is continuing its outperformance where 38770 is an immediate hurdle then 39200-39400 is the next resistance area. On the downside, 3800-37700 is an immediate support zone then 36800 is the critical support level.

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