Nifty may head towards 17600, Bank Nifty support at 39600; SBI, HUL in focus, Nifty IT, Auto to lead rally

By Dharmesh Shah

The Indian equity benchmarks followed global markets higher as concerns around the global financial crisis subsided. Nifty closed the week at 17360 levels up 2.5%. The broader market relatively underperformed the benchmark as Nifty Midcap and Small cap indices gained 1.6% and 0.8%, respectively. Sectorally, all major indices ended in green led by financials, IT, and metal.

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