“The index is likely to witness selling pressure near 17,815-17,900. However, the overall structure suggests that a sharp decline in the short term is unlikely. What we can expect is a short-term consolidation in the broad range of 17,200-18,000,” Ratnaparkhi said.
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The Indian market is expected to trade higher on Wednesday, following positive global cues. The Nifty50 closed 378 points up at 23,739 on Tuesday, with