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Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
Nifty as said earlier, indicated some consolidation at around 10500 levels and chances of some pullback recovery cannot be ruled out. On the downside if 10500 is breached decisively, then we may find fresh downward movement where the first major support would be at 10330 levels. The support for the day is seen at 10480 while resistance is seen at 10590. Pharma stocks could now act as a defensive sector, however, we need to wait for a few days for
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