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Morning Market Outlook

• Market is expected to open on a positive note, driven by a rally in global markets, strong domestic corporate earnings, and hopes that the upcoming Union Budget will support economic growth, boosting market sentiment.

• The US market gained 0.5%, closing near record highs after strong earnings from IBM and Tesla while The US Nasdaq futures climbed 0.7%. European markets rose 1%, hitting record highs after the ECB cut interest rates by 25bps and strong quarterly earnings were reported.

• However, media reports about the potential imposition of a 25% tariff on Mexico and Canada by the US President have raised concerns over a potential trade war.

• Domestically, the Gift Nifty is flat to positive. Key sectors to focus on include railways, infrastructure, fertilizers, textiles, electric vehicles (EV), and green energy stocks ahead of tomorrow Union Budget.

Nifty Technical Outlook

NIFTY (CMP : 23249) Nifty immediate support is at 23150 then 23050 zones while resistance at 23400 then 23500 zones. Now it has to hold above 23200 zones for an up move towards 23400 then 23500 zones whereas supports are placed at 23150 then 23050 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 49312) Bank Nifty support is at 49000 then 48750 zones while resistance at 49500 then 49750 zones. Now it has to hold above 49000 zones for a bounce towards 49500 then 49750 levels while on the downside support is seen at 49000 then 48750 zones.

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