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“The macro setups where we feel that there is a lot of headroom left are the ones to be reinitiated at these levels or added on to this correction. So, all is well, we need not worry. It is eventually a bit of a pullback, which was much needed. Even if it extends another 200-300 points from here, that would be a welcome dip.”
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“Nifty continued to exhibit strength as the index reached new highs due to large-cap banks and IT stocks. Strong Put writing at 20,100 has further bolstered positive sentiment in the market.”