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Watch Nifty
Ø Nifty has touched the crucial 4700 and closed thereabouts. We expect Nifty to take support at these levels ( 4700 +/- 1%) and move up. It has resistance
around 5180-5200. If in case Nifty does resist, one can see one more leg down. One has to see whether Nifty first takes support around the current levels.
Ø Nifty's support for 29/08 is expected around 4650 and resistance around 4930-50.
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