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Nifty is expected to trade with a positive bias for the near term.

Nifty is expected to trade with a positive bias for the near term; resistance is expected at 17400-17500 levels. Overall consolidation is expected to continue for some weeks before markets witness a directional move. 

We remain selectively positive with preference to frontline stocks over the midcap space. IT and banking are expected to participate while FMCG is expected to underperform in the near term.

 

reporter@marketlook.com
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