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NIFTY OUTLOOK

Despite inability to push much above 16590, an upside bias sustained through the day, on anticipated lines yesterday, which should prompt a firm opening today. However, opening up moves may not carry enough momentum to push beyond 17660-690 in which case a volatile session could ensue. This could bring 17500/470 into play, but if dips are held above this, a vertical rise to 17800 could unfold later in the day. Alternatively, slippage past 17500/470 region would deflate all upside momentum, though a collapse is less favoured.

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