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Technical Outlook:

Nifty (Spot):

Nifty witnessed a smart pullback from 15450-15335 demand zone and manages to close above 20-DMA of 15600 but SGX Nifty is suggesting a gap down opening below the 15600 level. If Nifty starts to trade below this level then we can again see selling pressure towards the 15450-15335 zone otherwise we can expect recovery after an initial gap down opening where 15750- 15800 will be the immediate resistance zone.

Banknifty (Spot):

Banknifty also witnessed a pullback from the 34000-33500 demand zone which is a crucial support area. 34500-34600 will be an immediate resistance zone after a gap down opening while 35000-35100 will be a critical resistance area.

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