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Nifty 

Nifty opened on a positive note and witnessed selling in the initial hours but in the second half buying momentumled index totradehigher.However, in the last hour selling pressure dragged index to close near to where it opened. Nifty closed at 22536 with a gain of 374points. Onthe daily chart the index has formed a Bullish candle carrying eitherside shadows indicating extreme volatility. The chart pattern suggeststhatifNifty crosses and sustains above 22600 level it would witness buying which would lead the index towards 22700-22850 levels. ImportantSupports for the day is around 22460 However if index sustains below 22460 then it may witness profit booking which wouldtaketheindextowards 22360-22300 levels

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