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NIFTY TECHNICAL VIEW

Nifty opened on a flat note and witnessed selling pressure in the initial half of the day. However later hour buying led index toendnearday'shigh.. Nifty closed at 25091 with a gain of 122 points. On the daily chart index has formed a small bullish candle carrying lower shadowindicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 24880 level it would witness selling which would lead the index towards 24800-24730 levels. However, if index crosses above 25115 level it would witness pullbackrallywhichwould take the index towards 25200-25250.

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