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Nifty

Nifty opened on a flat note and witnessed sideways movement in for most part of the day. However buying momentum in the last hour pulled index higher to end on a positive note.. Nifty closed at 25389 with a gain of 470 points. On the daily chart index has formed a sizable bullish candle forming higher High-Low compare to previous session and has closed above previous eight session's high indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 25200 level it would witness selling which would lead the index towards 25150-25000 levels. However if index crosses above 25450 level it would witness pullback rally which would take the index towards 25500-25600.

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