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Morning Market Outlook

* Market is expected to open on a positive note due to a smart recovery in the US market from its intraday low.

* This optimism is driven by expectations that the US Federal Reserve may cut interest rates, along with hopes that RBI will follow suit with a rate cut during its policy meeting tomorrow.

* Overnight, the Dow Jones rose over 300 points and the Nasdaq Composite returned to positive territory. Asian markets gained up to 0.5%, fuelled by expectations that the US Fed may cut interest rates after weaker-than-expected ISM manufacturing data.

* The GIFT Nifty rose marginally. Interest-sensitive sectors such as banking, auto, and real estate stocks are expected to see momentum ahead of the RBI policy meeting.

* Today, seven heavyweight Nifty companies, including Bharti Airtel, SBIN, ITC, Britannia Ind and Hero MotoCorp are scheduled to announce their Q3 results.

NIFTY (CMP : 23696)

Nifty immediate support is at 23600 then 23500 zones while resistance at 23850 then 24000 zones. Now it has to hold above 23650 zones for an up move towards 23850 then 24000 zones whereas supports are placed at 23600 then 23500 zones.

BANK NIFTY (CMP : 50343)

Bank Nifty support is at 50000 then 49750 zones while resistance at 50500 then 51000 zones. Now it has to hold above 50000 zones for an up move towards 50500 then 51000 levels while on the downside support is seen at 50000 then 49750 zones.

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