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The Nifty gained nearly a percent, amid volatility, last week. It hovered in a 200-point range throughout last week before settling close to 10,700 on Friday. Volatility due to the May series expiry added to participants’ worries last week.
This week we expect the volatility to continue given the 3-day Monetary Policy Committee meet starting Monday.
Technically, the Nifty has been consolidating for the last one month and facing strong resistance around the 10,800 zone. On the downside, 10,500 and 10,380 would act as a cushion.
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