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Technical Outlook:

Nifty (Spot):

Nifty is still stuck in the range of 15923-15632 where 50-DMA is also placed around the 15750 mark so any dip around 15750 will be a buying opportunity while any decisive move below 15632 may lead to further weakness. On the upside, the 15800-15850 area will act as an immediate resistance area at any pullback.

Banknifty (Spot):

Banknifty is facing resistance around 20-DMA which is currently placed at 35167 level while 34500 is immediate support; below this, 34125 will be the next important support level. On the upside, if it manages to trade above 20-DMA then it may head towards 35750 level.

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