Price action probabilities
A dip towards 17600 will be a health retracement or profit booking.
For continue up side Nifty have to close above 18300 for the target of 18555.
Above 18600 target will be 19040
Crude oil is trading within a bullish channel and gaining from last 4 trading sessions. According to price action consolidation near previous high will make it more bullish and we can see 92 to 95 level near future.
On the flip side if fails to breakout above previous high we can see profit booking or consolidation.
After 2 weeks of weakness banknifty managed to bounce back last week and closed above 37000 mark.
Now 37700 is next resistance
Closing above 37700 will take banknifty to 39000.
On the flip side 36000 will act as a strong support. Closing below the level will attract selling pressure again.