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Nifty Outlook

* The Markets opened higher and maintained their upward trajectory throughout the day as index closed at 14874.65 with a huge gain of 221.60 points. The buying interest was broadbased, as of the nifty 50 stock 35 closed in the green.

* Most of the sectoral indices closed on a green note, with strongest gain seen in the Nifty Bank (3.10%) and Nifty Auto (1.7%). While Nifty Pharma and Nifty metal were ended in the red note.

* On technical Front, the Index has given a breakout of its upper band of Falling Wedge formation which signifies a bull runin the counter.

* Moreover, the index has given closing above 21- Days Moving Averages, which suggests strength in the index.

* Additionally, MACD indicator is trading with a positive crossover & about to give closing above its Zero line which suggests a positive rhythm in the counter.

* At present, the support shifted to 14600 levels while an upside resistance seems at 15000 levels.

Bank Nifty

* Ona daily chart, bank nifty opened on green note and managed to closed at 33722.80 witha gain of460 points.

* Moreover, the index has given closing above 21&50 Daily moving averages, which suggests strength in the index.

* On a daily chart, Index has confirmed Bullish Engulfing Candlestick in the counter which suggest upside movementin the counter.

* At Present in the Index has support comes at 33000 level while resistance comes at 34500 level

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