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Nifty

Nifty opened on a flat note and witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end in green. Nifty closed at 15835 with a gain of 83 points. On the daily chart the index has formed a small bullish candle with shadows on either side representing extreme volatality as well as indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 15852 level it would witness buying which would lead the index towards 15900-16000 levels. Important Supports for the day is around 15660 However if index sustains below 15660 then it may witness profit booking which would take the index towards 15600-15500 levels.

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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785

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