"The Nifty has consolidated in a range since last few sessions in which the earlier support of 11,640 has been acting as a resistance now. Hence, the index needs to convincingly surpass the hurdle of 11,640-11,700 to regain any strength," Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said.

"On the flipside, 11,460-11,430 is the immediate support range to watch out for. From a near term perspective, the index is locked in a range which could be termed as a time-wise correction and until we see a breakout in either direction, traders should focus on a stock specific approach," he added.

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Technical Outlook

“The Nifty has consolidated in a range since last few sessions in which the earlier support of 11,640 has been acting as a resistance now. Hence, the index needs to convincingly surpass the hurdle of 11,640-11,700 to regain any strength,” Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said.

“On the flipside, 11,460-11,430 is the immediate support range to watch out for. From a near term perspective, the index is locked in a range which could be termed as a time-wise correction and until we see a breakout in either direction, traders should focus on a stock specific approach,” he added.





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