MARKET VIEW:
Indices continue to see selling pressure on back of global uncertainty. Volumes however picked up later during the session while market breadth continues to remain extremely negative. During the session NIFTY did move into previously mentioned support levels of 3500~3540 before making any positive bounce, in line with our expectation.
Reiterating our previous view, NIFTY continues to have support in range of 3500~3540 while strong hurdle exists around levels of 3750~3800 range. With high volatility traders may see good money minting opportunities.
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