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@9.00 AM: Market outlook
Experts pointed out that the 7,400 level would offer good support to the Nifty50.
"Having seen a lot of index stocks run away too far in a short time, it is difficult to take a trade technically. Even the risk-reward equation is very favourable. So, a bit of consolidation will always keep you in good health. On Thursday, the 7,400-7,380 levels were an important support area. Anything close to about 7,400-7,410 would be a good buying opportunity for investors, who want to initiate fresh long positions on the index or possibly even look at buying stocks on the long side, said Mitesh Thacker of miteshthacker.com.
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