A break of 17,450 could take Nifty down to 17,230

​Nifty has broken down from its consolidation range and slipped below its 100-day exponential moving average (EMA) of 17,900 levels, which was being defended for the past 23 sessions. The short-term moving averages are in a falling mode, which indicates the bearish momentum could continue in the upcoming week.

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