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Technical Outlook:

Nifty (Spot):

Nifty formed a Doji candlestick formation in the last two trading sessions followed by a sharp sell-off therefore low of the Doji candle which is placed at the 15183 level will act as an immediate support level. On the upside, 15500/15700 is an immediate and critical resistance level.

Bank nifty :

Banknifty has struggled to cross its psychological level of 33000 however 32400 is an immediate and critical demand zone where we can expect a bounceback; below this, 32250-32000 will be the next support level. On the upside, 33000 is an immediate hurdle then 33250-33500 is the next supply zone.

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