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Technical Outlook:

Nifty (Spot):

Nifty has slipped below 20-DMA but it is still stuck in a band of 15650-15900 where we are near to the lower band of the range and we can expect any bounceback from here but if Nifty slips below 15650 level then we can expect further selling pressure towards 15450 level. On the upside, 15750-15800 is an immediate resistance zone; above this, we can expect a move towards the 15900 level..

Banknifty (Spot):

Banknifty has also slipped below 20-DMA where 34700 is an immediate support level; below this 34500-34400 will be the next important support zone while 34000 will be a critical support level. On the upside, 34900-35000 is an immediate resistance zone while 35275-35300 will be the next resistance zone.

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