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Nifty

Market has taken support at the zone of 17766 and bounced till 18132. Amongst trendstrengthindicators RSI at bounced near the zone of oversold around 31 and is currently at 44.80. Above50,we can see more strength in upside trend. The upcoming week will carry some key datapointsastheupcoming week not only marks the occasional weekly expiry but marks the endof themonth,quarter & year as well. Broader support comes at the level of 17436 which is 200-daymovingaverage is and immediate support comes at the trendline around 17773. Any longpositioncanbehold with given stoploss of 17773 closing basis and break below will confirmtrend reversal.

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