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Thursday’s rangebound session turned volatile in the second half as indices swung lower in the last hour of trade. The Nifty reversed from its 10,710-10,720 resistance zone. Smaller time frame analysis depicts early signs of distribution.
However, it is important for the index to hold above the breakout zone of 10,640 levels for a meaningful bounce back.
The Bank Nifty outperformed and continues to sustain above the inverse head and shoulder breakout zone of 25,350 which is also its crucial support.
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