*INDEX Update*
*Nifty 50*
Nifty reached our target of its 200 DEMA which is placed near 16850. We maintain caution view on Nifty. On the downside the range of 16850-16800 will play as an important support for the short term, if it sustain below that then it can slide up to 16200. On the upside the range of 17100-17200 will play as an important resistance for the immediate term and the range of 17300-17400 will be a strong resistance for the short term.
*Banknifty*
Banknifty reached our target of its 200 DEMA which is placed near 36100. We maintain caution view on Banknifty. On the downside the range of 36000-35900 will play as an important support for the short term, if it sustain below that then it can slide up to 35000. On the upside the range of 36700-36800 will play as an important resistance for the immediate term and the range of 37200-37100 will be a strong resistance for the short term.
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