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Nifty Outlook

* Index has a gap down opening on a weekly expiry day and made an intraday low at 14980.20 level but showed bounce back movement and made an intraday high at 15202.35 level, given closing above 15000 level.

* All the sectors ended in a red note except Media and commodities. Stocks like Ultracemco, Adani Port, Shreecem were among the top gainers while Jswsteel, hdfc and Hindalco were among the top losers.

* Onthe technical Front, Index has given a closing above 21 HMA and also the daily momentum indicator RSI is reading above 50, which suggests an upside move from present levels.

* At present, the index has immediate resistance at 15250 levels while downside support comes at 14800 levels.

Bank Nifty Outlook

* Bank Nifty, also showed down   side movement and closed the session at 35802.50 levels with a loss of 565 points.

* Moreover, the index has formed Shooting Star Candlestick pattern which suggest correction in the index.

* Moreover, Index has given closing above 21 DMAwhich points out strength in the index.

* At Present in the Index has support comes at 35100 level while resistance comes at 36900

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