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Technical Outlook:

Nifty (Spot):

Nifty is continuing its strong bullish momentum following a breakout of 17350 level where 17800 is an immediate resistance while 18000-18100 is a critical resistance zone. On the downside, the 17500-17450 zone will act as an immediate support area while 17100 is critical support at any sharp pullback.

Bank nifty (Spot):

Banknifty manages to take out the critical resistance zone of 36700-37000 and it is showing strong momentum where 38000 looks like an immediate target however 37400 is an intermediate hurdle. On the downside, the 36700 level should act as a support now while 36000 is the next critical support level.

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