IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is trying to create a double bottom near the 16900 level however Nifty has to face multiple hurdles on the upside till 17800 therefore volatility may continue. For the day, positive momentum may continue on the back of strong global cues and positive F&O data. 17320-17350 immediate target zone while 17500-17525 is the next resistance zone. 17140 will act as immediate and intraday support while 17000 is the next important support level.

Banknifty (Spot):

Banknifty is respecting its 200-DMA and it has a strong technical structure however it has to cross critical supply zone of 37000-37300 for a powerful short-covering rally. 36500 is an immediate intraday support while 36000-35700 is a critical support zone.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer
SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer