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Daily Technical View on Nifty

* Nifty recovered from early losses post 1230 Hrs on Dec 13 and ended mildly in the positive.

* At close, Nifty was up 0.10% or 19.95 points at 20926.4.

* Cash market volumes on the NSE rose to Rs.1.03 lakh cr.

* Broad market indices rose much faster than the Nifty even as the advance decline ratio remained firm at 1.29:1.

* Nifty Midcap and Smallcap indices have hit fresh all time high

* Nifty formed a long legged doji after a fall. This suggests possibility of some bounce in the markets.

* Nifty could now rise towards the previous high of 21037 while 20770 could offer support.

* Indicators and oscillators have turned bullish on hourly chart

* Primary trend of the Nifty is bullish and dips should be utilized to go long

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