Nifty has an immediate support zone placed at 21,800 - 21,850 mark - which if broken can extend weakness further towards 21,500 and 21,250 levels. However, if this level holds well then we can see 22,250 and 22,500 reclaiming once.
At present levels, the risk reward looks favourable on the buying side with a strict stoploss kept at 21,800 mark for potential targets of 22,250 and 22,500 on the benchmark.
Similarly, Bank Nifty has a major support zone placed at 46,500 to 46,700 zone - which if broken can extend weakness towards 46,000 and 45,500 levels. However, if this level is held then we can see higher levels of 48,000 and 48,500 levels.
At present levels, the risk reward looks favourable on the buying side with a strict stoploss kept at 46,500 mark for potential targets of 48,000 and 48,500 levels.
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