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NIFTY TECHNICAL VIEW

Nifty opened on a flat note and witnessed buying momentum in initial hours. However, selling pressure at higher levels draggedit lowertoclose near the opening level.. Nifty closed at 25141 with a gain of 37 points. On the daily chart the index has formed a "Doji" candlestickformation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crossesandsustains above 25225 level it would witness buying which would lead the index towards 25300-25400 levels. Important Supports for thedayisaround 25080 However if index sustains below 25080 then it may witness profit booking which would take the index towards 25000-24900levels.

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