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NIFTY TECHNICAL VIEW

Nifty opened with a downward gap and witnessed bounce back in initial hours. However, selling pressure in second half draggedindexlowertoclose near the day's low.. Nifty closed at 24812 with a loss of 41 points. On the daily chart the index has formed a Bullish candle withauppershadow indicating selling at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 25000 level it would witnessbuyingwhich would lead the index towards 25080-25200 levels. Important Supports for the day is around 24800 However if index sustainsbelow24800 then it may witness profit booking which would take the index towards 24700-24600 levels.

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