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Banknifty - Get Ready for Correction

Banknifty - Get Ready for Correction

Banknifty opened the gap up, saw some followup up to Butterfly prz levels, faced resistance, closed in the first hour almost where it opened.

Now, resisting the same, we could see some correction in the index in today's session and it may continue in the following trading sessions as well.

Immediate support @ 39300
Strong support around 38100- 38000

However, closing above today's high would negate the probability of correction for some time to come.

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