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Technical Outlook:

Nifty (Spot):

Nifty is continuing its bullish momentum with a buy on small dip structure however 17475 is an immediate and important hurdle where volatility is increasing; above this, we can expect a move towards the 17675 level. If Nifty pauses at the 17475 level then we can expect some profit booking where 17200 is an immediate support level then 200-DMA of 17000 will be the next important support level.

Bank nifty :

Banknifty is getting volatile around the psychological level of 38000 and if it manages to sustain above this then we can expect a move towards the 38700 level. On the downside, 37400 is an immediate support level then 37000-36800 will be the next demand zone.

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