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Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
NIFTY VIEW
Ahead of the RBI policy, Nifty and Bank Nifty witnessed volatility with the former making an intraday low of 10550 and this zone at around 10,520-10,530 levels, technically we anticipate a good support and if that is broken, the sentiment would be weakened and further downside movement would be initiated with 10,400 as the next support level to watch for. However, the support for the day is seen at 10530 while resistance is seen at 10,640.
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