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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 24339 with a gain of 158 points. Onthedaily chart the index has formed a small bullish candle with shadows on either side representing extreme volatility as well as indecisivenessamongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 24500 level it wouldwitnessbuying which would lead the index towards 24600-24650 levels. Important Supports for the day is around 24100 However if index sustainsbelow24100 then it may witness profit booking which would take the index towards 24000-23900 levels.

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