Nifty is continuing its bullish momentum however 17950-18000 - Swastika Investmart
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Technical Outlook:
Nifty (Spot): Nifty is continuing its bullish momentum however 17950-18000 zone will act as an immediate resistance zone; above this, 18200 will be the next critical hurdle. On the downside, 17800-17750 is an immediate and strong demand zone; below this, 17500-17450 will be the next critical demand zone. Day traders are advised to wait and watch for the first 45 minutes where the ‘buy on dip’ approach may work till Nifty trades above 17750 level.
Banknifty (Spot): Banknifty is also showing strength however 38000-38200 is an immediate and important resistance zone; above this, we can expect further strength towards 38500/39000 levels. On the downside, 37700-37500 is an immediate support zone while 37000 will be a critical support.
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