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14,475-14,500 level crucial for Nifty..

Nifty is highly overextended and is in for a sharp consolidation at any moment now. The levels of 14,550 and 14,655 will act as resistance points, while support will come in at 14,470 and 14,400 levels.


The market is now highly overextended than ever before, signalling the requirement of a high degree of caution. Importantly, given the strong undercurrent, shorts should be strictly avoided even if the market shows some temporary blip because of probable profit-taking at higher levels. Unless there is a specific sign of any topping out of the market, selective purchases may be made while refraining from shorts. However, as often reiterated in our previous notes, new purchases should be kept at ve ..


Nifty (14563) The next logical target now in the days to come is 15000 and then 15471 and as long as 14350 holds’ the nifty unfolded strongly as expected and has closed in the green…technically upside to 15000-15471 is a possibility as long as 14400 holds…


Nifty Bank (32339) Upside to 32420-500 is a possibility as long as 31500 holds’ the Nifty Bank too unfolded strongly as expected and has closed in the green…technically now 32500 and then 33000 is a possibility as long as 31700 holds…

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