*INDEX UPDATE *
*Nifty 50*
In last trading session Nifty made high 12643, low 22475 and closed at 12631. We saw continued buying in the market and Nifty breached the 12600 mark.
We maintain bullish view with the target of 12770, which is the Flag pattern breakout. Thus any correction would be a good buying opportunity. On the downside the range of 12400-12350 will play as an important support for the immediate term.
*Banknifty*
In last trading session Banknifty made high 28802, low 27916 and closed at 28606. We saw continued buying in the market and Banknifty reached our target of 28400 and closed above it.
We maintain bullish view with the target of 29600. Thus any correction would be a good buying opportunity. On the downside the range of 26400-26200 will play as an important support for the immediate term, however the 20 DEMA will be a strong support for the short term, which is placed near 25400.
Disclaimer-Educational purpose only.