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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 23708withagainof92 points. On the daily chart the index has formed a small Bullish candle with shadows on either side indicating indecisiveness amongstparticipants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 23800 level it would witnessbuyingwhich would lead the index towards 23900-24000 levels. Important Supports for the day is around 23600 However if index sustainsbelow23600 then it may witness profit booking which would take the index towards 23500-23400 levels.

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