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Nifty has been moving in a range of 9700 – 10100 and is expected to remain in this range unless a major trigger causes a breakout. Markets are at present sensitive to geopolitical developments. On domestic front, markets will watch for IIP and inflation data next week.
Technical analysis indicates that immediate major support is at 9700. For the long term trend to reverse, Nifty has to sustain below 9450.
Existing investors should cautiously stay invested and fresh investment should be made in balanced or debt funds.
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