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Technical Outlook:

Nifty (Spot):

Nifty witnessed consolidation for the last two days but bullish momentum is intact and we can expect new highs soon in the coming days where 15335-15435 will be immediate resistance zone. On the downside, 15170-15135 will act as an immediate demand zone while 15000-14950 will remain a key support area.

Banknifty (Spot):

Banknifty took a back step yesterday but we can expect a resumption of bullish momentum today where 34300-34100 is an immediate demand zone whereas 33500 is major support on the downside. On the upside, 35000 is an immediate psychological resistance level but above this, we can expect a strong bullish momentum towards 35500/36500 levels.

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