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NIFTY OUTLOOK

Though the upmoves since Monday have set Nifty on a recovery path, bears have served counter punches for almost every upside attempt, so much so that, the effective gains has been only incremental, rather than inspiring. Yesterday’s declines having stopped exactly in the 18160 region, our downside marker, the anticipated upmove aiming 18385-485 may be assumed to have remained in play. Given how Nifty has swung in both directions all this week, we will begin the day, ear marking 18225 -18335 as the breakout region.

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