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Nifty

Nifty opened on a flat note however strong buying momentum from the opening tick led it to end near the day's high. Nifty closed at 26216 with a gain of 212 points. On the dai l y chart the index has formed a long Bul l ish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 26250 level it would witness buying which would lead the index towards 26300-26350 levels. Important Supports for the day is around 26000 However if index sustains below 26000 then it may witness profit booking which would take the index towards 25900-25800 levels.

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