Nifty is continuing its correction however it is trying to take support around the 18050 level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is continuing its correction however it is trying to take support around the 18050 level and 18000-17950 is a critical support zone where we can expect some pullback. On the upside, 18250-18300 is an immediate resistance zone while 18400-18450 will be the next resistance zone. Nifty may remain choppy between the 18000-18500 zone while any decisive move from this band will dictate further direction.
Banknifty (Spot):
Banknifty is outperforming and manages to close above the psychological level of 40000 where 40500 will be an immediate hurdle; above this, we can expect further strength. On the downside, 39800-39500 is an immediate and strong demand zone; only below this, we can expect any weakness.
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