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NIFTY TECHNICAL VIEW

Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 25202withalossof 125 points. On the daily chart the index has formed a bearish candle with shadows on either side representing extreme volatilityaswell asindecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 25330level itwould witness buying which would lead the index towards 25400-25500 levels. Important Supports for the day is around 25150Howeverifindex sustains below 25150 then it may witness profit booking which would take the index towards 25100-25000 levels.

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