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Indian shares ended flat on Wednesday, as losses in technology stocks offset most of the gains in metals. The 30-share headline indices declined 35.78 points to end at 58,817.29. Its broader peer, Nifty50, also failed to close above the 17,550 mark.

“The domestic markets ended on a flat note, but we witnessed some volatility. Now, since the past 5-6 sessions, we’re observing that the Nifty is just crawling higher without any major intensity. At the same time, the VIX has been rising, and that indicates that something is suspicious in the markets. Thus, we maintain that 17,600-17,800 could be a strong hurdle for the markets. We advise traders to start booking positions in this zone. On the downside, support is placed at 17,440, and a breach of the same might bring in some profit booking,” said Mehul Kothari – AVP, Technical Research at Anand Rathi Shares & Stock Brokers.

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