“Going forward, bias would remain corrective as long as the index continues to form lower high -low formation. Holding key support of 16800 levels in coming sessions would lead to a technical pull back towards 17500 as index has approached oversold readings ahead of key events,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
Bank Nifty remains strong
“Nifty expected to see more upside today above 17,182 with resistance at 17,350. Supports placed at 17,090 and 17,000. Bank Nifty continues to stay strong ahead of the Union Budget,” said Rahul Sharma, Director & Head – Technical, JM Financial.
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