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Nifty Outlook
The turn higher evolved just short of testing our downside marker of 23991, but the highlight of the day was the regrouping of bears from the 24300 vicinity, grabbing back more than half of the day's initial gains. This marked the third consecutive down close, but with key levels intact on either sides, volatility is the key theme now. We will begin the day with a slight negative bias, but with expectation of bargain hunting emerging at some point, though with not much clarity on the downside marker, given the volatility expectation, as well as the proximity of the 200 day SMA, now near 23500. We will look for trades above 24200, to pursue upside hopes.

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