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Nifty 50 Overview

Nifty witnessed a lacklustre trading session as the index failed to give any directional move. For any meaningful directional move Nifty needs to go below 18500 decisively or above 18700 on a sustain basis. Support below 18500, is pegged at 18350/18200. On the other hand, above 18700, resistance is visible at 18900.

Bank Nifty Overview

The bulls came back strong and knocked out the bears with full force surpassing the hurdle of 43,500 on a closing basis. The index confirms the continuation of the uptrend towards 44,000-44,600 levels on the upside. The lower-end support stands at 43,000 which will act as a cushion for the bulls. The index remains in a buy mode and any dips should be utilized to initiate fresh long positions.

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