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NSE Banking: Upside bounce is not expected to sustain and more weakness is likely for near term

HDFC Sec, 21 Aug 2017
The underlying trend of Banking sector is weak and there is a possibility of some more weakness for near term. The formation of significant top reversal pattern and the overall negative chart set up is indicating a downside target of around 22900 levels for banking sector, which could be achieved in the next 3-4 weeks.
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