* INDEX UPDATE *
*Nifty 50*
In last trading session Nifty made high 12741, low 12624 and closed at 12690. Nifty reached our target Of 12770 and from there we saw some profit booking in the market.
We maintain bullish on Nifty. If it sustain above 12770 then it can move up to 13000, on the downside the range of 12500-12450 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 12100.
*Banknifty*
In last trading session Banknifty made high 28672, low 28066 and closed at 28278. We saw some profit booking in the market.
We maintain bullish view on Banknifty. If it sustain above 29050 then it can move up to 29600, on the downside the range of 27500-27200 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 26000.
Disclaimer-Educational purpose only