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Technical Outlook:

Nifty (Spot):

Nifty is taking support at 17600 level after a pullback however SGX Nifty is suggesting a weak opening where 17750-17720 is an immediate and intraday demand zone while 17600-17450 is the critical demand zone. On the upside, 17800 will be an immediate hurdle after a weak opening while 17950-18000 is the next resistance area.

Bank nifty (Spot):

Banknifty is respecting the 37500 level however 38000 is an immediate hurdle; above this, we can expect a rally towards 38500/38750 levels. On the downside, 37500-37150 is an immediate demand zone while 36800-36500 is a critical demand zone.

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