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NIFTY / SENSEX

 Nifty, witnessed a strong optimistic move decisively breaching above the tough hurdle of the 24450 zone and indicating strength has made way for further rise in the coming days, having fresh upside targets of 25000 and 25400 levels. The index would now have the important near-term support zone at the 24300 level, while the 23800 zone shall be the major and crucial support. Sensex continue to gain strength with steady rise visible on the daily chart and sustaining above the 78500 zone is aiming to conquer the tough resistance hurdle at 79200 zone which shall establish conviction and clarity for further journey of the index. The 50EMA zone at 77000 would be the important support for the index which needs to be sustained whereas on the upside, the 200 period MA at 80100 level would be the target expected and resistance zone for the coming days. The day's support is at 24600 levels, while the resistance is at 25000 levels.

BANKNIFTY / BANKEX

BankNifty, indicated a strong bullish candle on the daily chart to decisively close above the important 200-period MA at the 57500 zone, with bias and sentiment improved to a much better extent. The 56500 zone shall be the important near-term support, while on the upside a decisive breach above the hurdle of the 58600 level shall trigger a breakout, and thereafter one can expect a fresh upward move in the coming days. BankNifty opened on a positive note near the 65551 level & gave a range breakout above 65050 zone to ease out the sentiment to some extent and amid some volatility closed near the 65380 level with bias slowly and steadily improving. BankNifty would have a daily range of 57500-59300 levels.

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