Nifty has managed to close above the crucial resistance zone of 22800 on the charts but the trend of the index is still on the lower side. The next major hurdle for the index is around 23200 while 22500 will be the immediate major support for the index in the short-term period. On the technical front, the indicators are in the comfortable zones with metrics trading in the oversold zones. Bank Nifty have shown good resilience in the last couple of sessions and have reclaimed the 52500 on the daily charts. The overall trend of the index is still on the lower side but some respite is seen for the price after the recent brutal sell off on the daily charts. The sentiment on the street will remain cautious till it is trading below 53400 on the charts

INFY

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