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NIFTY OUTLOOK

Nifty’s upside moves settled in the 17530-580 region on anticipated lines, yesterday. Bulls were timed out, as were bears on Monday, leaving the trend evenly poised for today. We will go in today, favouring initial dips, but with an intent to pick up longs as long as above 17480. Slippage below the same will negate the upside bias, but favoured view does not expect a collapse. Meanwhile, direct rise above 17590 will see momentum favouring upsides, but again, a vertical rise is not among the most favoured events today.

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