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MARKET REVIEW

* Equity benchmarks ended lower on Wednesday, extending losses for a third consecutive session.

* Auto and energy stocks declined, while IT and consumer durables stocks bucked the broader market weakness.

* The S&P BSE Sensex declined 120.20 points or 0.12% to 84,961.14. The Nifty 50 index dropped 37.95 points or 0.14% to 26,140.75.

NIFTY FUT CHART

NIFTY FUT TECHNICAL OUTLOOK

* Nifty is expected to open on a negative note and likely to witness range bound move during the day.

* On technical grounds, Nifty has an immediate support at 26140. If Nifty closes below that, further downside can be expected towards 26070-26000 mark.

* On the flip side 26300-26370 will act as strong resistance levels.

BANK NIFTY FUT CHART

BANK NIFTY FUT TECHNICAL OUTLOOK

* Bank Nifty is expected to open on a negative note and likely to witness range bound move during the day.

* Bank Nifty’s next immediate support is around 59900 levels on the downside and on a decisive close below expect a fall to 59700-59500.

* There is an immediate resistance at 60340-60500 levels.

TECHNICAL CALL UPDATES

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