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Nifty

Nifty opened with an upward gap and witnessed consolidation for most part of the session. However last hour pullback action pulled index higher to close near the day's high.. Nifty closed at 21911 with a gain of 71 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 21955 level it would witness buying which would lead the index towards 22100-22150 levels. Important Supports for the day is around 21790 However if index sustains below 21790 then it may witness profit booking which would take the index towards 21700-21650 levels.

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