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Nifty

Nifty opened on a flat note and witnessed selling pressure in the initial hour. However, buying from low level recovered earlier losses led index to end near day's high.. Nifty closed at 23998 with a loss of 180 points. On the daily chart index has formed a small bullish candle carrying lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 24200 level it would witness buying which would lead the index towards 24350-24400 levels. Important Supports for the day is around 23800 However if index sustains below 23800 then it may witness profit booking which would take the index towards 23600-23500 levels.

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