Nifty witnessed bounce back from 15600 support level after a one-day sell-off but 15770-15800 will act as a critical supply zone - Swastika Investmart
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Technical Outlook:
Nifty (Spot):
Nifty witnessed bounce back from 15600 support level after a one-day sell-off but 15770-15800 will act as a critical supply zone and if Nifty manages to trade above 15800 level then we can expect a rally towards 15950-16000 zone otherwise we can expect selling pressure once again where 15600/15500 will be the support levels.
Banknifty (Spot):
Banknifty is respecting its 20-DMA which is currently placed at 34650 level while 35250-35400 is a critical supply zone; above this, we can expect a short-covering rally towards the 35700-36000 zone otherwise we can expect some selling pressure once again.
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