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Technical Outlook:

Nifty (Spot):

The market is very volatile where 14750 of SO-DMA is an immediate hurdle while 14600 is immediate support. If Nifty manages to trade above 14750 then 20-DMA of 14900 will be a crucial hurdle while if Nifty slips below 14600 level then 14400-14300 will be the major demand zone. Traders are advised to wait and watch for the first 15-20 minutes to understand the trend and trade accordingly with respecting levels.

Banknifty (Spot):

Banknifty is struggling below 50-DMA of 34350 while 33500-32750 is a critical demand zone. If it manages to sustain above 34350 then we can expect a short-covering rally towards 35000 while 33300 is immediate support; below this, we can expect selling pressure and below 32750, we can expect a major trend reversal.

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