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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum with a buy-on dip texture however 18300- 18350 is a minor resistance where it may see some pause or pullback but if it manages to take out this zone then we can expect a rally towards 18500/18600 levels. On the downside, 18120 is an immediate support level while 17950/17800 will be the next support levels.

Banknifty (Spot):

Banknifty is underperforming near the resistance zone of 38800-39100; above this, we can expect a rally towards the 40000 level. On the downside, 38000 is an immediate psychological support level while 37500/37000 will be the next important support levels.

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