Nifty is trying to find its base near the 15700 level however it has to sustain above the 16000 level - Swastika Investmart
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Technical Outlook:
Nifty (Spot): Nifty is trying to find its base near the 15700 level however it has to sustain above the 16000 level for any meaningful recovery but if Nifty slips below the previous swing low of 15670 then we can expect further selloff towards 15500/15300 levels. On the upside, if the Nifty manages to sustain above the 16000 level then 16170/16300/16400 will be the next resistance levels.
Bank nifty (Spot): Banknifty is respecting psychological support level of 33000 and if banknifty manages to hold this level then we can expect a short-covering rally towards 34300/34800 levels while if it slips below 32900 level then we can expect further pain towards 32500/32000 levels.
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