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Nifty

Nifty opened on a flat note and witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end in green. Nifty closed at 20969 with a gain of 68 points. On the daily chart the index has formed a Bullish candle carrying either side shadows indicating extreme volatility.

The chart pattern suggests that if Nifty crosses and sustains above 21010 level it would witness buying which would lead the index towards 2106 0 -2 1 1 5 0 l evels. Important Supports for the day is around 20850

However if index sustains below 20850 then it may witness profit booking which would take the index towards 20800-20700 levels.

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