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Technical Outlook:

Nifty (Spot):

Nifty is continuing its strong bullish momentum where it is likely to take out its previous high of 14753 and may head towards the 14950-15000 zone. On the downside, 14600 will act as immediate support while 14350-14250 has become the key demand zone. We can expect the midcap and smallcap sector to catch up momentum after a sharp rally in the large-cap.

Banknifty (Spot):

Banknifty is outperforming and it may continue its outperformance where 35000 is a psychological hurdle while 35500/36000 will be the next resistance levels. 34300-34250 is an immediate demand zone while 33000-32900 will be the key demand zone.

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