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Technical Outlook:

Nifty (Spot):

Nifty is still stuck in a narrow range of 15650-15900 and it witnessed selling pressure from 15900 level in yesterday's trading session where 15750-15725 is an immediate demand zone after a gap down opening. If Nifty manages to hold this zone then we can expect a recovery from lower levels where 15850 will be the immediate resistance while if Nifty slips below 15700 level then we can expect any selling pressure.

Banknifty (Spot):

Banknifty faces resistance at 35800mark after a decent rally. On the downside 35300-35000 will be the immediate demand zone; below this, we can expect any weakness while a decisive move above 35800 can lead to a short-covering rally towards 36500 level.

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