Nifty seems to have immediate support at 14,850 followed by 14,700. It is likely to face resistance around the 15,250 – 15,300 zone followed by 15,500.
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The market is now constrained within the immediate support and resistance of 14,970 and 15,250 for the Nifty and a breakout on either side will determine the trend for the upcoming week, says Shah.