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Technical Outlook:

Nifty (Spot):

Nifty is witnessing correction where 15000-14950 will be the next support zone while 14800-14750 will be the critical demand zone and till then, buy on dip trend will be continued. On the upside, 15200-15250 will act as an immediate resistance area, above this, Nifty is likely to pick up the pace. Intraday traders can play this correction with the sell on rise strategy.

Banknifty (Spot):

Banknifty is trading near the support zone of 36500-36400; below this, we can expect some pressure towards the 35500 level. 36900-37000 is an immediate resistance area; above this, we can expect positive momentum towards the 37300-37500 zone.

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