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Below the Quote on Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices continued range bound activity, the Nifty ends 37 points higher while the Sensex was up by 224 points. Among Sectors, Capital Market Index was the top gainer, rallied nearly 4 percent whereas Media, Healthcare and Pharma indices shed over 1 percent.

Technically, after a long correction from last two days market witnessing range bound activity. On the higher side, 23260/76800 would be the key level to watch out, above the same market could bounce back till 23350-23400/77100-77200.

On the other side, below 23130/76300 the selling pressure is likely to accelerate. Below the same, market could retest the level of 23000/75900. Further down side may also continue which could drag the index up to 22950/75700.

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