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NIFTY TECHNICAL VIEW

Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end near lowest point of theday. Niftyclosed at 24752 with a loss of 74 points. On the daily chart index has formed a bearish candle however it remained restricted withinprevioussession's High-Low range indicating absence of strength on eitherside. The chart pattern suggests that if Nifty crosses and sustains above24900level it would witness buying which would lead the index towards 25000-25200 levels. Important Supports for the day is around 24700Howeverif index sustains below 24700 then it may witness profit booking which would take the index towards 24600-24500 levels.

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