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Technical Outlook:

Nifty (Spot):

Nifty manages to close above the 15050 mark which is a good sign for the market but SGX Nifty is suggesting a weak opening where 15050-14950 will act as an immediate demand zone. On the upside 15100 will be an immediate hurdle after a gap down opening while 15250-15330 will be the next resistance area.

Banknifty (Spot):

Banknifty is pausing near 34300-34600 resistance zone after a strong pullback where 33500-33300 is an immediate and strong support area; below this, we can expect some selling pressure. 33900-34000 area will act as an immediate resistance after a gap down opening.

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