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If Nifty see a close below 10350 in next few days then we may be going in for a deeper correction where price may see a downside move to 10100 - 9900.The Nifty50 ends down for the third consecutive day to close below 100-days SMA at 10,360. The Nifty has ended down for the third consecutive day which it hasn't done since the first week of January.
BankNifty also ended down to 24870 on the back of rising news of frauds in the domestic banking system that is surfacing since PNB scam was unearthed. The recent scam of Rotomac also added jitters to current developments.
Overall cues for the Indian equity markets remained negative on the back of sentiments that have developed in the last two weeks or so.
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