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NIFTY / SENSEX

Nifty, during the intraday session, amid volatility found resistance near the 22550 zone and slipped with profit booking seen to end near the 22400 zone with once again the index precariously placed and having the bias maintained with a cautiously positive approach. As mentioned earlier, the index has the crucial and important support zone of 22000 level which needs to be sustained and on the upside, as mentioned earlier, only a decisive breach above 23000 level shall establish conviction to expect for further rise ahead. Sensex continue to resist near the 74550 zone and witnessing profit booking slipped to lose steam. The index has the crucial near-term support at 73600 level which needs to be sustained as of now. As mentioned earlier, a decisive move past the 75000 zone is necessary to anticipate for further rise in the coming days. The support for the day is seen at 22300 levels while the resistance is seen at 22600 levels.

BANKNIFTY / BANKEX

BankNifty, continue to move sideways, overall sustaining above the important and crucial support zone of 47800 levels and as mentioned earlier, with most of the frontline banking stocks looking well poised for further upward move, we expect the index to gain strength in the coming days. The indexwould need a decisive breach above the 50EMA zone of 49500 levels to improve the bias and thereafter, trigger for further rise in the coming days. Bankex has indicated resistance barrier near 55700 zone while 54800 level is the near-term support which needs to be sustained. A decisive breach above 55800 level is much needed to trigger for a breakout and thereafter, a decisive move above the important 50EMA zone of 56300 levels is necessary to establish conviction and expect for further rise. BankNifty would have the daily range of 47600-48600 levels.

Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels

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