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Technical Outlook:

Nifty (Spot):

Nifty manages to close above 15650-15900 trading band in Friday's trading session but SGX Nifty is suggesting a big gap down opening today on the back of weak global cues where 20- DMA of 15785 will be the first important support level then 15650/15550/15450 will be the next important support levels. On the upside, 15900 will act as an immediate hurdle, after a gap-down opening. Traders are advised to wait and watch for the first 45 minutes to understand the trend then trade accordingly.

Banknifty (Spot):

Banknifty failed to close above the key hurdle of 35800 where 35250-34900 will be the first support area while 34500/34000 will be the next support levels. On the upside, 35500 will act as a first hurdle after the gap-down opening.

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