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The nifty has a crucial support of the 50 DMA level of 22,300 and a decisive close below the 22,300 level the nifty can slide further to the 22,000 and 21,800 levels.
But some investors might be tempted to consider selling this time as the general elections are feared to induce sharp swings in equities. Investors are also growing nervous about the US Federal Reserve delaying interest rate cuts as expected by the financial markets.