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Technical Outlook:

Nifty (Spot):

Nifty is continuing its strong bullish momentum and SGX Nifty is suggesting a big gap up opening however 17750-17800 is a critical resistance area where the risk of profit booking can emerge. If Nifty manages to cross the 17800 level then 18000 will be the next goal post. On the downside, 17535 will be immediate and strong support after a gap-up opening while 17350 is the next support level.

Bank nifty :

Banknifty is outperforming and likely to open above the hurdle of 38800; above this, 39200-39400 is the next resistance area. On the downside, 38300 will be immediate support after a gap up opening while 37800 is the next support level

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