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The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement. Conversely, the immediate support is positioned at 22,200-22,150, and sustaining above this level could witness some recovery in the index, said Kunal Shah of LKP Securities. ....
Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term. ....