*INDEX - UPDATE*
*Nifty 50*
In last trading session Nifty made high 11926, low 11757 and closed at 11908. Nifty broke its 20 DEMA , which is placed near 11750 and we witnessed continued buying in the market.
On the daily chart, the oscillator are showing positive cross over , now Nifty can test its previous swing high of 12025-12100 zones, on the downside the 20 DEMA , which is placed near 11750 will play as an important support for the immediate term.
*Banknifty*
In last trading session Banknifty made high 25891, low 25142 and closed at 25771. After broke its resistance range of 25200-25250 , we saw continued buying in the market.
On the upside Banknifty can test 26400, on the downside 20 DEMA which is placed near 24200 will play as an important support for the immediate term, however the 200 DEMA which is placed near 23600 will be a strong support for the short term.
Disclaimer-Educational purpose only.