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Stock Market Highlights: Sensex falls 334 points, Nifty ends below 15,650 dragged by metals, auto, PSU Banks

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Mohit Nigam, Head, PMS – Hem Securities

Nifty50 showed a sharp reversal from an important resistance level of 15,800. 15,500 will be an important support for the short term in Nifty50 and it may be a good buying opportunity around these levels. Immediate resistance levels for Nifty50 are 15,800 and 16,000 while key support levels for Nifty50 are 15,500 and 15.300. An increase in Covid cases in China & volatility in international markets are creating some resistance in the rally. Today’s correction can be short term in nature due to some profit booking since we have been making fresh all-time highs since the past few sessions regularly.

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