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Nifty Outlook
Upsides continue to be challenged, even as dips keep getting picked up. Meanwhile, neither are we close to downside target of 23900 nor breached the upside marker of 24420. This suggests that the medium term objective of 25262 will be in play as long as dips recover swiftly enough to continue floating above 24030 and will be encouraged to chase rallies on a direct rise above 24420. That said, we had played for pull back lower in the last two days, expecting a mean reversion after the large gains of Friday, and such expectations will remain for the day as well, aiming 23900, as long as below 24260.

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