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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum where 18050 is acting as a minor hurdle; above this, we can see further upside towards 18100/18200 levels. On the downside, 17940 will act as immediate support level, below this, 17800 is a critical support level. Traders are advised to continue with the momentum until the market shows any major signs of weakness where stock and sector-specific opportunities are available.

Banknifty (Spot):

Banknifty is outperforming where 38000 mark has become an immediate and strong support level and the upside momentum is likely to continue towards 39000 level till it trades above 38000 level however if it slips below 38000 level then 37700-37500 is a critical demand zone.

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