Nifty closed positive on weekly basis giving the much-needed room for bulls to break the highs again. The week ended was very volatile and finally, the trend looks positive. Close above the swing high in the coming week should head towards the 17,000 mark. 15644 should be the bottom in place for the next move.
BankNifty momentum is held for the consecutive second week as well. 36660 acts immediate resistance and breaking above should reach 37700 mark. 20 WMA placed at 34111 and that should be the bottom line in case of the worst thing. 34630 should be the optional support as swing low projection.