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Nifty Outlook:

Our upside targets of 15000-15300 for the week, suggested yesterday, were conditional on 14620 arresting early declines. Except that yesterday’s dips extended to 14598, the structure is still in favour of meeting the weekly upside targets. We expect the opening hour to be supported by 14710, and the 14790-840 challenges do not look insurmountable. However, a directional upmove beyond 15000 is not very visible at this point. Alternatively, if 14710 is seen unable to arrest any potential loss of confidence, we may not be inclined to wait for 14600s to pull out all bullish bets.

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