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Nifty

* The benchmark index plunged further consecutively for the third day in a row, on the back of weak global sentiments and awaited U.S. monetary policy. After a flat opening, the nifty index slipped more than 1% during the day and settled at 14721.30 levels.

* Allthe sectoral indices came under selling pressure and settled in red whereas, BSE Midcap & Smallcap dropped more than 2% ina day. Despite a one-way fall in the market, a few stocks like ITC, HDFC, INFOSYS have contributed some gains while ONGC, BPCL, TATAMOTORS became prime laggards.

* Technically, on the daily chart, the nifty index has moved below 21 days Simple Moving Averages and also shifted below the prior swing lows. An oscillator stochastic has indicated negative crossover which supports the bearish trend for the near term.

* At present, the nifty index has an immediate resistance at 15000 levels while downside support comes at 14500 levels.

Bank Nifty

* Ona Daily Chart,Banknifty has closed around 34229.25 levels with the loss of 575 points.

* Moreover, Index has given closing Below 21 HMAwhich points out weakness in the index.

* On a daily Chart, Index has formed bearish Marabozu candlestick pattern which suggest Southword journey in the Index. 

* At Present in the Index has support comes at 33700 level while resistance comes at 35000 Level.

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