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Technical Outlook:

Nifty (Spot):

Nifty is witnessing correction from 16200-16300 supply zone however 15900/15800 are immediate and strong support levels where we can expect fresh buying while below 15770, selling pressure may get momentum. On the upside, 16050 is an immediate hurdle then 16150 is the next hurdle.

Bank nifty :

Banknifty is also witnessing profit booking from 35500 level however 34550 is an immediate support level then 34300 is the next important support level. On the upside, 35000 will act as an immediate and strong hurdle while 35250 is the next hurdle.

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