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NIFTY OUTLOOK

The dip below 17838 turned out to be brief, in line with volatile tendencies prevailing all through this week. This has allowed Nifty to swing higher, thereby easing directional downsides fears. If the week’s trend is anything to go by, the ensuing pull back is likely to face selling pressure again, thus requiring a break of 18070 for upside confirmation. However, yesterday’s morning star candle stick formation in the closing hours, encourages us to play the upsides early in the day itself today, with downside marker placed at 17850.

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