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Nifty

Nifty opened on a flat note but witnessed extreme volatility on either side for most part of the session. However buying momentum in the last hour pulled index higher to end on a positive note.. Nifty closed at 21983 with a gain of 32 points. On the daily chart the index has formed a Bullish candle carrying either side shadows indicating extreme volatility. The chart pattern suggests that if Nifty breaks and sustains below 21850 level it would witness selling which would lead the index towards 21800-21750 levels. However if index crosses above 22060 level it would witness pullback rally which would take the index towards 22120-22200.

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