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Nifty Outlook

* The benchmark index continued the upside move on Wednesday after two days of fall and managed to close at 14819.05 levels with a gain of 135 points.

* All the sectoral indices closed at positive territory with the average gain of 1% whereas Nifty Metal & Nifty Auto performed well. On the stock front, JSWSTEEL,SBI, WIPRO were the top gainer while ADANIPORT, TITAN, UPL, NTPC became the prime laggards.

* Technically, the nifty index has taken good support at 50 days Exponential Moving Averages, which indicates bullish strength for the near term.

* Moreover, an oscillator Stochastic has indicated positive crossover on the daily chart.

* At the moment, the index has immediate support at 14600 levels, while on the higher side it may find resistance around 14950 levels.

Bank Nifty

* On a daily chart, bank nifty gained by more than 1% to settle at 32991 .20 levels.

* Furthermore, the index has been taken support of 100 Daily Average, sustained above it can show upside movement.

* Hourly momentum indicator Stochastic (6) has shown a positive crossover, which indicates strength in the counter.

* At Present in the Index has support comes at 32400 level while resistance comes at 33600 level.

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