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Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:
NIFTY VIEW
The daily trend of Nifty has turned down after 7 days, with a close below 11700, implying some sideways consolidation to see some profit booking but the bias still continues to be intact now with the near-term support of 11600-11400. The support for the day is seen at 38440/11600 while resistance is seen at 38900/11730. Bank Nifty would have a range of 27840-28320. Pharma index has once again got into the new round of momentum and we anticipate a target of
