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Below are Views on Nifty and Bank Nifty Outlook By Mr. Anuj Gupta, Vice President, IIFL Securities

Last week again the nifty closed flat only increased by 0.40% and closed at 18027 levels. Banknifty closed higher by 0.32% and closed at 42506 levels. The trend of nifty and banknifty are still positive on the technical charts. However the expectation of results season may be supportive for the market.

for the next week nifty has a strong support at 17900 and then 17700 levels, while resistance at 18250 and then 18400 levels. Bank nifty support at 41800 levels and then 41200 levels, resistance at 43000 levels and then 43500 levels. As the fundamental factors like weakness in dollar and weakness in bond yield may shift FPIs investment in emerging economies will support the Indian market. We are expecting the FPI's inflow may increased in india in coming days.

We are expecting that nifty may test 18250 to 18400 levels and if it breached the 18400 levels then it may test 18700 levels. Bank nifty may test 43000 to 43500 levels very soon

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