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Good morning

Yesterday, the Nifty opened the day flat, retraced for the first few hours after which a strong move was displayed till around the post noon session. However, the last two hours of trade saw profit booking based on some statements released by Russian and Ukraine which erased all the gains to close the day at around the days low.

For today, the Nifty is expected to open with a negative bias on global cues. Strong and immediate support is now at 17250. Now, if this support is taken out, the Nifty is likely to test 17100 – 17000 which is the immediate support zone.

Further updates during live market hours on our Telegram channel.

For the Bank Nifty, immediate resistance is now at 37900. Till the time the Index trades below this level, the bears will rule and can take the Index to test 37000 – 36800 which is the next support zone.

Wishing you a profitable day ahead!!!