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Nifty

Nifty opened on a flat note and witnessed profit booking in the initial hour. However, in the later part of the day, pullback rally led index to end on flat note. Nifty closed at 18756 with a gain of 40 points. On the daily chart the index has formed a Bullish candle with a long lower shadow indi cating buying at lower levels. The chart pattern suggests that if Nift y crosses and sustains above 18770 level it would witness buying which would lead the index towards 18840-18900 levels. Important Supports for the day is around 18750 However if index sustains below 18750 then it may witness profit booking which would take the index towards 18700-18600 levels.

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

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