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Nifty

Expect the index to remain oscillating within the immediate range of 17000-17450. Though the index is holdingwell aboveits 5DEMA zone its trend strength indicators are again diverging , hence expect momentum to remain mute. GAPsupportat17000 remains firm & hence any declines towards the same would provide good opportunities to deploy freshlongs. Theimmediate support for the week stands firm at 17150-17000 zone while its price trends above its 5DEMAZone17090. Whilethe upside remains open till 17450-17650 zone for this series. Expect the on-going bullish momentumto accelerateonceabove 17460 while the same could be jeopardized incase the index breaks down below 17000 fromhereon. Theheightenedvolatility in other assets classes due to the Ukraine Russian crisis has even kept our benchmark index actionvulnerabletowards the news flows driven from the global markets hence its better to focus on stock specific action until theindexrestswithin the on-going consolidation band of 17000-17450

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