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Nifty

Nifty opened on a negative note and witnessed extreme volatility on eitherside for most part of the session. However later hour buying momentum pulled index higher to end on a strong note. Nifty closed at 24801 with a gain of 188 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 crosses and sustains above 24850 level it would witness buying which would lead the index towards 24950-25000 levels. Important Supports for the day is around 24600 However if index sustains below 24600 then it may witness profit booking which would take the index towards 24500-24400 levels.

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