Nifty is vulnerable to a move towards the 16000-15700 zone - Swastika Investmart
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Technical Outlook:
Nifty (Spot):16400-16350 is a critical demand zone where we can expect a bounceback while 20- DMA of 16250 is the next sacrosanct support mark because below this, Nifty is vulnerable to a move towards the 16000-15700 zone. On the upside, 16500 is an immediate hurdle then 16700/16800 are the next resistance levels.
Bank nifty :Banknifty has an immediate demand zone of 34800-34650 where we can expect a bounceback while a move below 34500 may again lead to selling pressure towards 34000/33500 levels. On the upside, 35300-35500 is an immediate resistance zone; above this, we can expect a rally towards 35700/36000 levels.
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