NIFTY UPDATE

After the Policy, NIFTY is holding well. Near-term setup is positive as far as 17,380-17,400 zone holds on spot. On upside it still can test 17,700 And 17,830 on spot. We are taking minor profits respecting the short-term setup. But it does not change our stand on markets. We would put it this way; earlier NIFTY came down to go up now NIFTY would go up to come down, so there is a difference of approach. NIFTY BANK also would stay in a strong position as long as it stays above 39,050 so banks for now are holding well.

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