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Nifty

Nifty opened on a flat note and witnessed buying momentum in initial hours. However selling pressure at higher levels dragged it lower to close near day's low. Nifty closed at 25378 with a loss of 41 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indec isiveness among st mar ket participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 25290 level it would witness selling which would lead the index towards 25200-25100 levels. However if index crosses above 25500 level it would witness pullback rally which would take the index towards 25550-25600.

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