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Nifty Technical View

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 23603 with a loss of 93 points. Onthedailychartthe index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding thedirection.The chart pattern suggests that if Nifty crosses and sustains above 25800 level it would witness buying which would lead the indextowards23920-24000 levels. Important Supports for the day is around 23550 However if index sustains below 23550 then it may witness profit bookingwhich would take the index towards 23500-23400 levels

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