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Watch Nifty
Ø Nifty indeed moved violently and has touched base with our support levels - 5960 with an already over 4% correction. A short term reversal upside looks imminent from either 5960 or 5920 levels and Bank Nifty could reverse up from 12050 levels. It could also well be possible that there could be some more correction on the downside. Intra day, inspite of the huge volatility, Nifty stayed within the boundaries indicated by us (+/- 10 pts. on both sides).
Ø Nifty's support for 29/10 is likely around 5960 and then 5920.
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