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Technical Outlook:

Nifty (Spot):

Nifty is continuing its uptrend with intraday volatility where it is difficult to chase gap up or gap down. On the downside 15725/15625 are strong support levels to buy any dip while Nifty is likely to head towards 16000 level. Traders are advised to use buy on dip or consolidation strategy with stop loss of 15600.

Banknifty (Spot):

Banknifty is struggling to sustain above 20-DMA which is currently placed around 35080 level and if it manages to sustain above this level then we can expect a move towards 36000 level while 34750-34400 is an immediate and strong demand zone to buy any dip.

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