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Technical Outlook:

Nifty (Spot):

Nifty is again facing resistance near the 15900 level after a pullback rally from the 50- DMA, and SGX Nifty is suggesting a negative opening where the 15800-15770 area will be the first demand zone to take any long position while 15680-15640 will be the next support area.

Banknifty (Spot):

Banknifty is trading near the psychological mark of 35000 and if it manages to trade above this level then we can expect a short-covering rally towards the 35350-35550 zone. On the downside, 34880-34800 area will be the first demand zone while 34500 will be the next support level.

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