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Watch Nifty
Ø Nifty reacted yet another session. We expect it to reverse up in a session or two. 6030-40 levels should provide support. Bank Nifty has shown further weakness. These reactions are a good opportunity for long term investors to start cherry picking at the current levels and could be averaged if there is a further fall of about 500 odd points. The downside can be 5-6%, but the upside potential is huge at 15-20%.
Ø Nifty's support for 06/01 is likely around 6030-40.
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