MARKET VIEW:
Wave of profit booking that was observed in earlier trading session post noon session got converted into ''sell-off'' on back of which NIFTY finally made move below mentioned support of 3420 and then moving closer to 3300 levels. Negative European indices added fuel to the fire. Once again NIFTY closed the session near its intraday low without any signs of recovery. Volume continued to remain lower while market breadth completely in favor of BEARS.
NIFTY on intraday charts now has strong resistance around levels of 3400~3440 levels while support exists far lower around levels of 3190.
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