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Technical Outlook:

Nifty (Spot):

Nifty is struggling to cross the 15900 level but manages to close above 20-DMA of 15742. Today's behavior will be important where if it manages to hold 20-DMA then we can again expect positive momentum where 15830/15900 are immediate resistance levels while if Nifty starts to trade below 20-DMA then selling pressure may get momentum where 15450-15335 will be the next important support zone.

Banknifty (Spot):

Banknifty is again losing momentum but it manages to hold the 35000 level and if it holds this level then we can expect bounceback where 35300-35500 is an immediate resistance zone while if it slips below the 35000 mark then selling pressure may get momentum towards 34000 level.

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