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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 23265 with a gain of 6 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 23400 level it would witness buying which would lead the index towards 23500-23600 levels. Important Supports for the day is around 23200 However if index sustains below 23200 then it may witness profit booking which would take the index towards 23000-22900 levels.

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