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Technical Outlook:

Nifty (Spot):

Nifty is sitting near-critical supply zone of 14950-15050 and SGX Nifty is suggesting a big gap down opening where 14750-14725 area will be strong demand zone while 14600-14550 will be the next support area. Aggressive traders can try to buy the dip near 14750 while conservative traders can wait for the first 45 minutes to understand the trend. On the upside 14890-14935 will be the first supply zone after a gap down opening.

Banknifty (Spot):

Banknifty is still underperforming where it will be important to see its behavior in today's weak opening. On the downside, 32350-32000 will be a strong support area while below this; we could see selling pressure towards the 31500-31000 zone. 33000-33200 will be crucial resistance zone after a gap down opening.

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