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Technical Outlook:

Nifty (Spot):

Nifty has given closing above 18100 on the second consecutive session. SGX Nifty is Suggesting a Positive opening, however, still, 18200 is acting as a minor hurdle; above this, we can see further upside towards 18300/18400 levels. On the downside, 18050 is an immediate demand zone; below this, we can expect intraday weakness towards 17950 levels. The market may remain volatile but stock and sector-specific opportunities will be available

Banknifty (Spot):

Banknifty is taking volatile with negative bias from 39200-39100 level, 9-DMA is an immediate hurdle; above this, we can expect a further move towards 40000-40200 zones. On the downside, 38500 is the important support level then there is a risk of a major Weakness.

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