Nifty is respecting its 20-DMA where 15900 is an immediate resistance - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty is respecting its 20-DMA where 15900 is an immediate resistance; above this, we can expect a rally towards 16000/16200 level. On the downside 20-DMA of 15720 will act as an immediate support level, we can expect any weakness only below 15720 level where 15450-15335 is a critical support zone.
Banknifty (Spot):
Banknifty is showing decent strength after a period of underperformance where 35500/35800 are immediate resistance levels; above this, we can expect a rally towards 36500 level. On the downside 35000 is an immediate support level while 34300-34000 is a critical support zone.
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