Nifty is trading near the previous swing low of 15670 and most of the momentum indicators are trading in oversold - Swastika Investmart
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Technical Outlook:
Nifty (Spot): Nifty is trading near the previous swing low of 15670 and most of the momentum indicators are trading in oversold territory, therefore, we can expect a bounceback towards 16180/16400 levels while if the Nifty slips below the 15670 level then selling pressure may be intensified towards 15500/15000 levels.
Bank nifty (Spot): Banknifty is also continuing its southward journey and 33000 is an immediate psychological support level where we can expect some bounceback while below, the 33000 level, 32000 will be the next important support level. On the upside, 34000/34500/35000 will be important hurdles.
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