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Nifty

Nifty opened on a positive note and witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end in green. Nifty closed at 21783 with a gain of 65 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 21810 level it would witness buying which would lead the index towards 21850-21900 levels. Important Supports for the day is around 21650 However if index sustains below 21650 then it may witness profit booking which would take the index towards 21600-21550 levels.

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