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Nifty

NIFTY opened with an upwards gap and continued its previous session's positive movement in initial hour , However profit booking around 25425 levels dragged index lower to close near day's low . Nifty closed at 25255 with a gain of 210 points . On the daily chart the index has formed a Bearish candle carrying either side shadows indicating extreme volatility . The chart pattern suggests that if Nifty crosses and sustains above 25450 level it would witness buying which would lead the index towards 25550 - 25650 levels . Important Supports for the day is around 25100 However if index sustains below 25100 then it may witness profit booking which would take the index towards 25000 - 24900 levels .

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