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NIFTY TECHNICAL VIEW

Nifty opened with an upward gap and strong buying momentum from the opening tick led it to end near the day's high. Nifty closed at 23739 with a gain of 378 points. On the daily chart index has formed a sizable bullish candle forming higher High-Low compare to previous sessionandhas closed above previous many session's high indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above23760 level it would witness buying which would lead the index towards 23920-24000 levels. Important Supports for the day is around 23600Howeverif index sustains below 23600 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