Market turned bearish from the bullish and almost closed below 9370 now some more selling pressure in the market likely continue. Banking stocks also looking weak as well as Pharma and Metal. However, IT stock showing some strength against the market. Short term trend is down and do not try to long side. However, do not worry about LOC and best time to sharp decline to buy side.
Nifty : consider resistance 9400 9430 range and support 9285 break this level more down side towards 9267.
Bank Nifty : also some selling pressure at higher level and support broken on intra day basis, we may consider 22500 22400 support and resistance at 22900 – 23000 in near term.
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