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Nifty

Nifty opened on a flat note and witnessed profit booking in initial half however buying momentum at lower levels pulled index higher to close in positive territory. Nifty closed at 17345 with a gain of 5 points. On the daily chart the index has formed a small bullish candle with shadows on either side representing extreme volatility as wel l as indec isi veness among st participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17390 level it would witness buying which would lead the index towards 17450-17500 levels. Important Supports for the day is around 17215 However if index sustains below 17215 then it may witness profit booking which would take the index towards 17150-17000 levels.

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

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