Nifty is likely to open above the key hurdle of 16400 which may lead to a further shortcovering rally towards 16670/16900 levels - Swastika Investmart
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Technical Outlook:
Nifty (Spot): Nifty is likely to open above the key hurdle of 16400 which may lead to a further shortcovering rally towards 16670/16900 levels. On the downside, 20-DMA which is currently placed at the 16277 level will act as an immediate support level while 16000 is a critical base now.
Bank nifty (Spot): Banknifty is outperforming however 35750-36000 is a critical resistance zone; above this, we can expect a short covering rally towards 36500/36800 levels. On the downside, 35500 is an immediate support level while 35000-34800 is a critical demand zone.
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