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Nifty

Nifty opened on a flat note and witnessed selling pressure in the initial half of the day. However later hour buying led index to end on a positive note. Nifty closed at 22474 with a gain of 118 points. On the daily chart the index has formed a Bullish candle with a lower shadow indicating buying at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 22500 level it would witness buying which would lead the index towards 22570-22640 levels. Important Supports for the day is around 22370 However if index sustains below 22370 then it may witness profit booking which would take the index towards 22270-22200 levels.

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