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Technical Outlook:

Nifty (Spot):

Nifty is struggling around 100-DMA, but today SGX nifty is showing positive opening where 17350/17480 are the important resistance levels for a further upward move. On the downside 17080/17030 are the important Support levels

Bank nifty (Spot):

Banknifty respected its 20-DMA after a pullback and respected a decent bounce however 36000-36700-37000 are the critical supply zone; above this, we can expect a sharp short- covering rally towards 38000/39000 level. On the downside, 35500/35300 has become near term base while 35000 is a critical support level.

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