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Nifty 50 Broke the resistance of 17781 and found support on the demand zone presence below.
Nifty is trading in the zone and the supply zone presence is above at a level of 18063 which might work as resistance.
On Friday, Nifty 50 closed at 17854.05(+1.38%). Nifty has a resistance at a level of 17961 on the upside.
Nifty may find support on 17704 which was working as resistance previously.
Bank Nifty showed weakness last week and traded in the zone. The support area of 41569 which might work as resistance now.
Bank Nifty needs to break the resistance of 41569 for any upside move and the supply zone is present at a level of 4300 level.
On Friday, Bank Nifty closed at 41499.70 (+2.04%). BN traded near the previous gapped-down area and there is supply zone presence above at 41920-41540 levels.
As BN has two immediate resistance which might work as strong resistance on the upside and 40801 level might work as support on the downside.
Analysis by
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.