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Nifty Technical

Nifty opened on a flat note and witnessed selling pressure in in the first half. However, buying momentum in second half pulled indexhighertoclose near the day's high.. Nifty closed at 22471 with a loss of 27 points. On the daily chart the index has formed a small Bearishcandlewithlower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 22580level it wouldwitness buying which would lead the index towards 22650-22700 levels. Important Supports for the day is around 22330 However if indexsustains below 22330 then it may witness profit booking which would take the index towards 22250-22050 levels.

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