*INDEX- Update*
*Nifty 50*
In last trading session Nifty made high11836, low 11723 and closed at 11813. Nifty took support near its 50 DEMA , which is placed near 11530 and we saw pull back from lower levels.
Nifty closed above its 20 DEMA, which is placed near 11750, thus it can again come in the range of 11900-11200, on the downside Nifty has support at 11530 , which its 50 DEMA, thus one should keep stop loss below 11500 for the long positions.
*Banknifty*
In last trading session Banknifty made high 25760, low 25085 and closed at 25682. Banknifty took support near its 200 DEMA and we witnessed continued buying in the market.
Banknifty closed above its resistance range of 25200-25250, thus it can move up to 26400, on the downside Banknifty has important support at 23600, which its 200 DEMA, thus one should hold long positions with stop loss below 23600.
Disclaimer-Educational purpose only.