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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 23538 with a gain of 37 points. On the daily chart the index has formed a Bullish candle c a rr y i n g e it h e r si d e s h a d o w s indicating extreme volatility. The chart pattern suggests that if Nifty crosses and sustains above 23560 level it would witness buying which would lead the index towards 23620-23700 levels. Important Supports for the day is around 23350 However if index sustains below 23350 then it may witness profit booking which would take the index towards 23300-23200 levels

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