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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 ledindexto end near day's high.. Nifty closed at 25776 with a gain of 48 points. On the daily chart the index has formed a strong Bullish candlecarryinglong lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 25800level itwould witness buying which would lead the index towards 25900-26000 levels. Important Supports for the day is around 25560Howeverifindex sustains below 25560 then it may witness profit booking which would take the index towards 25500-25400 levels.

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