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Technical Outlook:

Nifty (Spot):

Nifty is witnessing signs of correction though it is trading little choppy in intraday trading sessions where 17600 will act as an immediate and strong hurdle while 17725-17775 is the next important resistance zone. On the downside, Friday's low of 17452 will act as immediate support; below this, 17300-17250 will be the next critical support zone. Traders are advised to go with sell on rise strategy till Nifty trades below the 17775 level.

Banknifty (Spot):

Banknifty is outperforming but 37400-37500 will act as an immediate resistance zone; above this, we can expect some positive momentum towards the 37800-38000 zone. On the downside, 36900 is immediate support; below this, 36500-36300 will be the next support zone.

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