Nifty manages to close above 16350 resistance level and if it manages to hold this level - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty manages to close above 16350 resistance level and if it manages to hold this level then we can expect bullish momentum to continue towards 16500/16600 levels. On the downside, 16300 will act as an immediate intraday support while 16200-16170 is the critical support area. Traders are advised to remain with a bullish trend with the ‘buy on dip or consolidation’ approach.
Banknifty (Spot):
Banknifty is consolidating near the 36000 mark but it may see a catch-up move where 36500 is a critical hurdle; above this 37200-37700 will be the next resistance zone. On the downside, 35500 is immediate support while 35200-35000 is a strong demand zone.
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