Technicals Daily Morning Report by Vaishali Parekh, Prabhudas Lilladher Pvt. Ltd
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Forecast
NIFTY
Nifty maintained above the 21800 zone for the entire trading session with bias remaining positive with the broader markets also showing active participation to improve the sentiment overall. The index needs to sustain above the 21800 level as of now and expect for retesting the previous peak level of 22150 zone in the coming days. The support for the day is seen at 21800 while the resistance is seen at 22100.
BANK NIFTY
BankNifty, maintaining above the 46000 zone for most part of the session improved the bias with a decent close above the significant 50EMA level of 46070 zone after a month’s time. With the indicators showing signs of improvement, it is expected to achieve the next targets of 46800 and thereafter 48000 levels in the coming days. BankNifty would have the daily range of 45800-46800 levels.
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